ConocoPhillips (NYSE:COP) Shares Acquired by Cornerstone Advisors LLC

Cornerstone Advisors LLC boosted its stake in ConocoPhillips (NYSE:COP) by 10.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,000 shares of the energy producer’s stock after buying an additional 6,100 shares during the period. Cornerstone Advisors LLC’s holdings in ConocoPhillips were worth $6,738,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Values First Advisors Inc. bought a new position in shares of ConocoPhillips in the third quarter valued at $26,000. Stephens Consulting LLC boosted its position in shares of ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares during the period. Reston Wealth Management LLC purchased a new position in ConocoPhillips in the 3rd quarter worth about $31,000. Y.D. More Investments Ltd purchased a new stake in ConocoPhillips during the second quarter valued at about $35,000. Finally, Fairway Wealth LLC increased its position in shares of 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 acquiring an additional 153 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Performance

COP opened at $113.43 on Thursday. The company has a market cap of $130.55 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 0.92 and a beta of 1.21. ConocoPhillips has a 52-week low of $101.29 and a 52-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 50-day moving average of $108.57 and a 200-day moving average of $111.48.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $13.97 billion. During the same period last year, the business posted $2.16 earnings per share. The firm’s revenue was down 8.5% compared to the same quarter last year. As a group, equities research analysts forecast that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be paid a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.75%. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Analyst Ratings Changes

COP has been the subject of several research analyst reports. Barclays raised their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. UBS Group reduced their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Scotiabank lowered their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Finally, Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $137.63.

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.