Fifth Third Wealth Advisors LLC Boosts Holdings in ConocoPhillips (NYSE:COP)

Fifth Third Wealth Advisors LLC grew its position in ConocoPhillips (NYSE:COP) by 15.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,447 shares of the energy producer’s stock after acquiring an additional 3,541 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in ConocoPhillips were worth $2,784,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vicus Capital raised its holdings in shares of ConocoPhillips by 3.7% in the second quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock worth $302,000 after buying an additional 94 shares during the period. Montag A & Associates Inc. lifted its position in shares of ConocoPhillips by 2.5% during the second quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock worth $446,000 after purchasing an additional 96 shares during the last quarter. Excalibur Management Corp boosted its stake in shares of ConocoPhillips by 2.4% during the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock valued at $462,000 after purchasing an additional 96 shares during the period. First Hawaiian Bank grew its holdings in shares of ConocoPhillips by 0.3% in the second quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer’s stock worth $4,202,000 after purchasing an additional 97 shares during the last quarter. Finally, Bank OZK increased its stake in ConocoPhillips by 1.6% in the 2nd quarter. Bank OZK now owns 6,251 shares of the energy producer’s stock worth $715,000 after buying an additional 97 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on COP shares. Susquehanna upped their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Barclays increased their price objective on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Truist Financial decreased their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. Finally, BMO Capital Markets lifted their price objective on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. 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 stock. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $137.63.

ConocoPhillips Stock Performance

COP opened at $113.76 on Tuesday. The company has a market cap of $130.93 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 0.92 and a beta of 1.21. 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 firm’s 50-day moving average price is $108.17 and its 200-day moving average price is $111.53. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion during 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 business’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, equities analysts anticipate that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.74%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s payout ratio is presently 37.10%.

ConocoPhillips 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.