Pacer Advisors Inc. Increases Stock Position in ConocoPhillips (NYSE:COP)

Pacer Advisors Inc. grew its position in shares of ConocoPhillips (NYSE:COP) by 5,422.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,587,729 shares of the energy producer’s stock after purchasing an additional 4,504,653 shares during the period. ConocoPhillips makes up approximately 1.0% of Pacer Advisors Inc.’s investment portfolio, making the stock its 18th biggest position. Pacer Advisors Inc.’s holdings in ConocoPhillips were worth $482,996,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in COP. Values First Advisors Inc. bought a new stake in ConocoPhillips in the 3rd quarter worth approximately $26,000. Stephens Consulting LLC increased its position in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in ConocoPhillips during the third quarter valued at $31,000. Y.D. More Investments Ltd bought a new position in ConocoPhillips during the second quarter valued at $35,000. Finally, Fairway Wealth LLC grew its stake in shares of ConocoPhillips by 95.6% in the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after buying an additional 153 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Up 0.3 %

Shares of NYSE COP opened at $113.43 on Thursday. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $108.57 and a two-hundred day simple moving average of $111.48. The firm 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 (NYSE:COP) last released its quarterly earnings data 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. The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.16 earnings per share. Analysts expect that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 of this dividend is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 2.75%. ConocoPhillips’s payout ratio is 37.10%.

Analysts Set New Price Targets

COP has been the subject of a number of analyst reports. Truist Financial lowered their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Susquehanna boosted their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Finally, Barclays boosted their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $137.63.

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.