Cobblestone Capital Advisors LLC NY Has $382,000 Stake in ConocoPhillips (NYSE:COP)

Cobblestone Capital Advisors LLC NY reduced its position in shares of ConocoPhillips (NYSE:COP) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,631 shares of the energy producer’s stock after selling 100 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in ConocoPhillips were worth $382,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in COP. Fisher Asset Management LLC raised its holdings in shares of ConocoPhillips by 59.7% in the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after purchasing an additional 4,656,040 shares during the period. Pacer Advisors Inc. increased its position in ConocoPhillips by 5,422.3% during the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after buying an additional 4,504,653 shares during the last quarter. Primecap Management Co. CA raised its stake in ConocoPhillips by 48.9% in the third quarter. Primecap Management Co. CA now owns 4,320,905 shares of the energy producer’s stock valued at $454,905,000 after buying an additional 1,418,900 shares during the period. International Assets Investment Management LLC lifted its position in shares of ConocoPhillips by 10,634.2% in the third quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer’s stock valued at $126,933,000 after buying an additional 1,194,434 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its stake in shares of ConocoPhillips by 19.3% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,811,289 shares of the energy producer’s stock worth $717,093,000 after acquiring an additional 1,101,685 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on COP shares. Susquehanna increased their price target on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Scotiabank reduced their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Finally, Barclays boosted their price objective on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Six research 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. According to data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $137.63.

ConocoPhillips Stock Performance

NYSE:COP opened at $108.34 on Monday. The company has a market cap of $124.69 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 0.89 and a beta of 1.21. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The stock has a fifty day moving average price of $108.77 and a 200-day moving average price of $110.72.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter in the prior year, the business posted $2.16 earnings per share. ConocoPhillips’s revenue was down 8.5% compared to the same quarter last year. As a group, equities analysts anticipate that ConocoPhillips will post 7.76 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be given a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.88%. ConocoPhillips’s dividend payout ratio (DPR) is currently 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.