Eagle Asset Management Inc. Acquires 910 Shares of ConocoPhillips (NYSE:COP)

Eagle Asset Management Inc. lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 2.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,985 shares of the energy producer’s stock after buying an additional 910 shares during the period. Eagle Asset Management Inc.’s holdings in ConocoPhillips were worth $3,681,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in shares of ConocoPhillips by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,096,450 shares of the energy producer’s stock valued at $747,114,000 after buying an additional 153,944 shares in the last quarter. Smithfield Trust Co lifted its stake in ConocoPhillips by 3.3% in the third quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock valued at $332,000 after acquiring an additional 100 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of ConocoPhillips by 5,422.3% during the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after purchasing an additional 4,504,653 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its holdings in shares of ConocoPhillips by 8.7% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,807 shares of the energy producer’s stock valued at $296,000 after purchasing an additional 225 shares during the period. Finally, LPL Financial LLC lifted its stake in ConocoPhillips by 3.1% in the 3rd quarter. LPL Financial LLC now owns 1,021,324 shares of the energy producer’s stock valued at $107,525,000 after purchasing an additional 30,772 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on COP shares. Barclays boosted their target price on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. BMO Capital Markets raised their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. UBS Group reduced their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Mizuho raised their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Truist Financial decreased their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $137.63.

ConocoPhillips Price Performance

COP stock opened at $111.75 on Monday. The company has a market capitalization of $128.61 billion, a P/E ratio of 13.29, a PEG ratio of 0.91 and a beta of 1.21. The company has a fifty day moving average price of $108.91 and a 200-day moving average price of $111.23. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.16 earnings per share. As a group, equities analysts expect that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

ConocoPhillips 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.