ConocoPhillips (NYSE:COP) Shares Acquired by EP Wealth Advisors LLC

EP Wealth Advisors LLC lifted its holdings in ConocoPhillips (NYSE:COP) by 22.6% in the third quarter, HoldingsChannel reports. The firm owned 38,690 shares of the energy producer’s stock after buying an additional 7,131 shares during the quarter. EP Wealth Advisors LLC’s holdings in ConocoPhillips were worth $4,073,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC raised its stake in shares of ConocoPhillips by 164.8% in the third quarter. Kovitz Investment Group Partners LLC now owns 59,776 shares of the energy producer’s stock valued at $6,293,000 after acquiring an additional 37,201 shares in the last quarter. Voya Financial Advisors Inc. raised its position in ConocoPhillips by 6.9% in the 3rd quarter. Voya Financial Advisors Inc. now owns 11,546 shares of the energy producer’s stock valued at $1,209,000 after purchasing an additional 744 shares in the last quarter. Wellington Management Group LLP raised its position in ConocoPhillips by 20.2% in the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after purchasing an additional 5,240,016 shares in the last quarter. Wahed Invest LLC grew its position in shares of ConocoPhillips by 7.9% during the third quarter. Wahed Invest LLC now owns 28,463 shares of the energy producer’s stock worth $2,997,000 after buying an additional 2,090 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc increased its stake in shares of ConocoPhillips by 3.2% during the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 66,750 shares of the energy producer’s stock worth $7,027,000 after buying an additional 2,042 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Down 1.2 %

NYSE COP opened at $103.22 on Monday. The firm’s fifty day moving average is $108.61 and its two-hundred day moving average is $110.18. ConocoPhillips has a one year low of $101.29 and a one year 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 firm has a market cap of $118.80 billion, a PE ratio of 12.27, a P/E/G ratio of 0.85 and a beta of 1.18.

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 firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter in the previous year, the firm posted $2.16 EPS. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. Analysts expect that ConocoPhillips will post 7.76 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 3.02%. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Wall Street Analyst Weigh In

COP has been the subject of a number of recent research reports. Barclays lifted their price target 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. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. UBS Group cut their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Truist Financial decreased their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Scotiabank dropped their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.06.

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.