ConocoPhillips (NYSE:COP) Shares Purchased by Prospera Financial Services Inc

Prospera Financial Services Inc raised its position in ConocoPhillips (NYSE:COP) by 23.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,097 shares of the energy producer’s stock after acquiring an additional 13,595 shares during the quarter. Prospera Financial Services Inc’s holdings in ConocoPhillips were worth $7,488,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of COP. Price T Rowe Associates Inc. MD increased its stake in ConocoPhillips by 35.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock worth $4,097,473,000 after buying an additional 8,479,963 shares during the period. Capital International Investors raised its stake in shares of ConocoPhillips by 9.6% in the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after acquiring an additional 1,856,085 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in ConocoPhillips by 10,634.2% in the third quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer’s stock valued at $126,933,000 after purchasing an additional 1,194,434 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in ConocoPhillips by 19.3% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,811,289 shares of the energy producer’s stock valued at $717,093,000 after purchasing an additional 1,101,685 shares during the period. Finally, Encompass Capital Advisors LLC acquired a new position in ConocoPhillips during the 2nd quarter worth $60,050,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

COP stock opened at $113.76 on Tuesday. The business has a 50 day simple moving average of $108.17 and a 200-day simple moving average of $111.53. The company has a market capitalization of $130.93 billion, a P/E ratio of 13.53, a PEG ratio of 0.92 and a beta of 1.21. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. 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 (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.16 EPS. As a group, equities analysts anticipate that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on COP shares. Barclays lifted their price objective on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Scotiabank decreased their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. UBS Group dropped their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Truist Financial decreased their price objective on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Six investment 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.com, the company has an average 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.