West Family Investments Inc. Boosts Stock Holdings in ConocoPhillips (NYSE:COP)

West Family Investments Inc. lifted its stake in ConocoPhillips (NYSE:COP) by 8.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,498 shares of the energy producer’s stock after buying an additional 285 shares during the period. West Family Investments Inc.’s holdings in ConocoPhillips were worth $368,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Crewe Advisors LLC purchased a new position in ConocoPhillips in the 1st quarter worth approximately $194,000. Vident Advisory LLC grew its holdings in shares of ConocoPhillips by 5.4% in the first quarter. Vident Advisory LLC now owns 24,998 shares of the energy producer’s stock worth $3,182,000 after purchasing an additional 1,291 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of ConocoPhillips in the first quarter worth $46,000. Delap Wealth Advisory LLC bought a new stake in ConocoPhillips during the 1st quarter valued at $267,000. Finally, CreativeOne Wealth LLC boosted its position in ConocoPhillips by 32.1% during the 1st quarter. CreativeOne Wealth LLC now owns 8,856 shares of the energy producer’s stock valued at $1,127,000 after buying an additional 2,150 shares during the period. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of analyst reports. Truist Financial decreased their price objective 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. Mizuho lifted their price objective on ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Susquehanna upped their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Finally, Scotiabank dropped their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.63.

ConocoPhillips Stock Performance

Shares of COP opened at $113.09 on Wednesday. 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 stock has a market cap of $130.16 billion, a P/E ratio of 13.45, a P/E/G ratio of 0.92 and a beta of 1.21. The business’s 50 day moving average price is $108.35 and its 200-day moving average price is $111.47. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter in the previous year, the business earned $2.16 earnings per share. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. Equities research analysts anticipate that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be paid a $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 2.76%. ConocoPhillips’s payout ratio is presently 37.10%.

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.