Claro Advisors LLC Purchases 803 Shares of ConocoPhillips (NYSE:COP)

Claro Advisors LLC lifted its position in shares of ConocoPhillips (NYSE:COP) by 23.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,215 shares of the energy producer’s stock after acquiring an additional 803 shares during the period. Claro Advisors LLC’s holdings in ConocoPhillips were worth $444,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Bahl & Gaynor Inc. boosted its position in shares of ConocoPhillips by 12.0% during the first quarter. Bahl & Gaynor Inc. now owns 4,043 shares of the energy producer’s stock valued at $515,000 after buying an additional 434 shares during the last quarter. Lake Street Advisors Group LLC boosted its holdings in shares of ConocoPhillips by 110.7% during the 1st quarter. Lake Street Advisors Group LLC now owns 7,853 shares of the energy producer’s stock valued at $1,000,000 after acquiring an additional 4,126 shares during the last quarter. National Bank of Canada FI grew its stake in shares of ConocoPhillips by 42.1% in the first quarter. National Bank of Canada FI now owns 417,952 shares of the energy producer’s stock worth $50,952,000 after acquiring an additional 123,754 shares during the period. Pitcairn Co. lifted its position in ConocoPhillips by 2.2% during the first quarter. Pitcairn Co. now owns 15,235 shares of the energy producer’s stock valued at $1,939,000 after purchasing an additional 328 shares during the period. Finally, InterOcean Capital Group LLC boosted its holdings in ConocoPhillips by 7.4% in the first quarter. InterOcean Capital Group LLC now owns 7,299 shares of the energy producer’s stock worth $929,000 after purchasing an additional 500 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Trading Up 1.3 %

Shares of COP stock opened at $113.76 on Tuesday. The stock has a fifty day simple moving average of $108.17 and a two-hundred day simple moving average of $111.53. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The firm has a market capitalization of $130.93 billion, a PE ratio of 13.53, a PEG ratio of 0.92 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 released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter last year, the business posted $2.16 earnings per share. The firm’s revenue was down 8.5% on a year-over-year basis. On average, 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. Stockholders of record on Monday, November 11th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 37.10%.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of research reports. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. BMO Capital Markets increased their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. UBS Group cut their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Barclays increased their price objective 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. Finally, Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $137.63.

About ConocoPhillips

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.