Wellington Management Group LLP Has $3.28 Billion Stock Position in ConocoPhillips (NYSE:COP)

Wellington Management Group LLP increased its stake in shares of ConocoPhillips (NYSE:COP) by 20.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,161,897 shares of the energy producer’s stock after acquiring an additional 5,240,016 shares during the period. Wellington Management Group LLP owned about 2.71% of ConocoPhillips worth $3,280,725,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vicus Capital boosted its stake in shares of ConocoPhillips by 3.7% during the 2nd quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock worth $302,000 after acquiring an additional 94 shares during the last quarter. Montag A & Associates Inc. raised its holdings in ConocoPhillips by 2.5% in the 2nd quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock worth $446,000 after purchasing an additional 96 shares during the period. Excalibur Management Corp lifted its position in ConocoPhillips by 2.4% during the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock valued at $462,000 after purchasing an additional 96 shares in the last quarter. Cypress Capital Group grew its holdings in ConocoPhillips by 0.5% during the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after purchasing an additional 96 shares during the period. Finally, Bank OZK increased its position in ConocoPhillips by 1.6% in the second quarter. Bank OZK now owns 6,251 shares of the energy producer’s stock worth $715,000 after buying an additional 97 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on COP. BMO Capital Markets lifted their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a report on Friday. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. Mizuho boosted their price objective on ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Scotiabank cut their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $139.06.

ConocoPhillips Trading Up 0.9 %

NYSE COP opened at $104.44 on Friday. The firm has a 50-day moving average price of $108.64 and a 200 day moving average price of $110.43. The stock has a market capitalization of $120.20 billion, a P/E ratio of 12.42, a P/E/G ratio of 0.87 and a beta of 1.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. 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, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the prior year, the company posted $2.16 EPS. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. Equities research analysts expect that ConocoPhillips will post 7.76 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 2.99%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio 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.