ConocoPhillips (NYSE:COP) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC increased its stake in shares of ConocoPhillips (NYSE:COP) by 7.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 296,878 shares of the energy producer’s stock after purchasing an additional 20,899 shares during the period. ConocoPhillips makes up 0.5% of Empowered Funds LLC’s portfolio, making the stock its 23rd largest holding. Empowered Funds LLC’s holdings in ConocoPhillips were worth $31,255,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vicus Capital raised its position 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 purchasing an additional 94 shares during the last quarter. Montag A & Associates Inc. increased its position in ConocoPhillips by 2.5% during the second quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock worth $446,000 after buying an additional 96 shares in the last quarter. Excalibur Management Corp lifted its position in shares of ConocoPhillips by 2.4% in the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock valued at $462,000 after acquiring an additional 96 shares in the last quarter. First Hawaiian Bank raised its holdings in shares of ConocoPhillips by 0.3% in the 2nd quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer’s stock worth $4,202,000 after purchasing an additional 97 shares during the period. Finally, Bank OZK lifted its stake in shares of ConocoPhillips by 1.6% in the 2nd quarter. Bank OZK now owns 6,251 shares of the energy producer’s stock valued at $715,000 after purchasing an additional 97 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on COP. Mizuho boosted their price objective on ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Barclays boosted their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Truist Financial cut their price objective on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, UBS Group dropped their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Six equities research 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.63.

ConocoPhillips Stock Up 0.3 %

COP opened at $113.28 on Friday. The stock’s fifty day moving average is $107.77 and its 200-day moving average is $111.90. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The company has a market capitalization of $130.38 billion, a PE ratio of 13.43, a P/E/G ratio of 0.91 and a beta of 1.21. 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 (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping 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 firm had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same period last year, the firm posted $2.16 earnings per share. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. On average, equities analysts predict that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be given 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 dividend on an annualized basis and a yield of 2.75%. ConocoPhillips’s dividend payout ratio is presently 37.10%.

ConocoPhillips Company 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.