Empower Advisory Group LLC Increases Position in ConocoPhillips (NYSE:COP)

Empower Advisory Group LLC lifted its position in shares of ConocoPhillips (NYSE:COP) by 20.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 551,932 shares of the energy producer’s stock after acquiring an additional 92,847 shares during the quarter. Empower Advisory Group LLC’s holdings in ConocoPhillips were worth $58,107,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in ConocoPhillips by 4.2% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 50,075 shares of the energy producer’s stock worth $6,374,000 after buying an additional 2,041 shares during the period. Texas Yale Capital Corp. lifted its stake in shares of ConocoPhillips by 8.9% during the first quarter. Texas Yale Capital Corp. now owns 2,170 shares of the energy producer’s stock valued at $276,000 after buying an additional 177 shares during the period. D Orazio & Associates Inc. purchased a new position in shares of ConocoPhillips during the first quarter valued at approximately $257,000. TBH Global Asset Management LLC lifted its stake in shares of ConocoPhillips by 34.5% during the first quarter. TBH Global Asset Management LLC now owns 28,486 shares of the energy producer’s stock valued at $3,626,000 after buying an additional 7,308 shares during the period. Finally, Beacon Investment Advisory Services Inc. lifted its stake in shares of ConocoPhillips by 1.8% during the first quarter. Beacon Investment Advisory Services Inc. now owns 72,706 shares of the energy producer’s stock valued at $9,254,000 after buying an additional 1,277 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 1.3 %

COP stock opened at $110.64 on Wednesday. The firm’s 50-day moving average is $107.69 and its two-hundred day moving average is $112.04. The company has a market capitalization of $127.34 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21. The company has a current ratio of 1.30, a quick ratio of 1.16 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 released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period last year, the firm posted $2.16 earnings per share. On average, analysts forecast that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.82%. ConocoPhillips’s payout ratio is 37.10%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on COP. BMO Capital Markets upped 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. Barclays increased 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 reissued a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Truist Financial reduced their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Wolfe Research initiated coverage on shares of ConocoPhillips in a research report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target on the stock. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $137.47.

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.