ConocoPhillips (NYSE:COP) Stake Lifted by Probity Advisors Inc.

Probity Advisors Inc. raised its stake in ConocoPhillips (NYSE:COP) by 4.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,145 shares of the energy producer’s stock after buying an additional 389 shares during the quarter. Probity Advisors Inc.’s holdings in ConocoPhillips were worth $963,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of COP. Stephens Consulting LLC increased its holdings in shares of ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares during the period. Richardson Capital Management LLC bought a new position in ConocoPhillips in the 1st quarter worth about $31,000. Ruedi Wealth Management Inc. grew its position in ConocoPhillips by 150.0% in the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after purchasing an additional 150 shares during the last quarter. Valued Wealth Advisors LLC increased its stake in shares of ConocoPhillips by 45.8% in the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after purchasing an additional 82 shares during the period. Finally, Y.D. More Investments Ltd bought a new stake in shares of ConocoPhillips during the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of a number of recent analyst reports. Mizuho decreased their price objective on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a report on Monday, September 16th. UBS Group lowered their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. BMO Capital Markets lifted their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Susquehanna decreased their target price on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Finally, StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $137.12.

Insiders Place Their Bets

In related news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

NYSE COP opened at $105.20 on Thursday. The stock has a market capitalization of $123.03 billion, a P/E ratio of 11.91, a P/E/G ratio of 0.88 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The business’s fifty day moving average is $109.11 and its two-hundred day moving average is $115.12. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same period in the previous year, the firm earned $1.84 earnings per share. ConocoPhillips’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, research analysts forecast that ConocoPhillips will post 8.02 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 26.27%.

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.