ConocoPhillips (NYSE:COP) Shares Acquired by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. raised its stake in shares of ConocoPhillips (NYSE:COP) by 59.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 401 shares of the energy producer’s stock after buying an additional 150 shares during the period. Valley Wealth Managers Inc.’s holdings in ConocoPhillips were worth $42,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of COP. EP Wealth Advisors LLC increased its stake in shares of ConocoPhillips by 19.1% during the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock valued at $3,640,000 after acquiring an additional 4,578 shares during the period. Manning & Napier Advisors LLC bought a new position in ConocoPhillips during the 2nd quarter valued at $30,021,000. Alpha DNA Investment Management LLC increased its position in shares of ConocoPhillips by 83.8% during the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock valued at $1,879,000 after purchasing an additional 7,490 shares during the period. TCW Group Inc. raised its stake in shares of ConocoPhillips by 37.8% in the 2nd quarter. TCW Group Inc. now owns 30,026 shares of the energy producer’s stock worth $3,434,000 after buying an additional 8,231 shares in the last quarter. Finally, Doheny Asset Management CA acquired a new stake in shares of ConocoPhillips in the second quarter valued at $815,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.5 %

NYSE:COP opened at $112.32 on Friday. The stock has a market cap of $129.27 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The stock’s 50-day moving average is $108.01 and its two-hundred day moving average is $111.78.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the previous year, the firm posted $2.16 earnings per share. The firm’s revenue was down 8.5% on a year-over-year basis. As a group, equities research analysts forecast that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.78%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Analyst Upgrades and Downgrades

COP has been the topic of a number of research analyst reports. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Susquehanna boosted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Mizuho raised their target price on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. BMO Capital Markets upped their price target on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, UBS Group cut their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.