Cypress Capital Group Has $1.98 Million Stock Position in ConocoPhillips (NYSE:COP)

Cypress Capital Group lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 0.5% during the third quarter, Holdings Channel.com reports. The firm owned 18,790 shares of the energy producer’s stock after acquiring an additional 96 shares during the quarter. Cypress Capital Group’s holdings in ConocoPhillips were worth $1,978,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Values First Advisors Inc. bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at $26,000. Stephens Consulting LLC boosted its position in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares during the last quarter. Reston Wealth Management LLC purchased a new position in shares of ConocoPhillips in the 3rd quarter worth about $31,000. Y.D. More Investments Ltd bought a new position in shares of ConocoPhillips during the 2nd quarter valued at approximately $35,000. Finally, Fairway Wealth LLC increased its position in ConocoPhillips by 95.6% in the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after buying an additional 153 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.3 %

NYSE:COP opened at $113.43 on Thursday. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The company’s 50 day moving average is $108.57 and its two-hundred day moving average is $111.48. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The company has a market cap of $130.55 billion, a PE ratio of 13.49, a P/E/G ratio of 0.92 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same period last year, the business earned $2.16 earnings per share. ConocoPhillips’s quarterly revenue was down 8.5% on a year-over-year basis. Analysts anticipate that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be paid a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.75%. The ex-dividend date is Friday, November 8th. ConocoPhillips’s payout ratio is 37.10%.

Analyst Ratings Changes

A number of research analysts have weighed in on COP shares. Mizuho lifted their target price on ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, November 1st. JPMorgan Chase & Co. reissued a “neutral” rating and set a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. UBS Group reduced their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Susquehanna increased their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $137.63.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.