Advisory Resource Group Decreases Stake in ConocoPhillips (NYSE:COP)

Advisory Resource Group reduced its position in ConocoPhillips (NYSE:COP) by 1.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 218,703 shares of the energy producer’s stock after selling 3,570 shares during the quarter. ConocoPhillips comprises about 4.9% of Advisory Resource Group’s holdings, making the stock its 3rd biggest holding. Advisory Resource Group’s holdings in ConocoPhillips were worth $23,025,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. State Street Corp raised its holdings in ConocoPhillips by 19.0% during the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after buying an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of ConocoPhillips by 20.2% during the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after purchasing an additional 5,240,016 shares in the last quarter. Geode Capital Management LLC grew its stake in ConocoPhillips by 3.9% in the third quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock worth $2,601,639,000 after purchasing an additional 924,289 shares during the period. Fisher Asset Management LLC raised its holdings in ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock worth $1,311,369,000 after purchasing an additional 4,656,040 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in ConocoPhillips by 4.6% during the second quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock worth $1,132,430,000 after acquiring an additional 438,241 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Mizuho lifted their price target on ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Scotiabank cut their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. UBS Group cut their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Wells Fargo & Company boosted their price target on ConocoPhillips from $131.00 to $134.00 and gave the stock an “overweight” rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $139.18.

ConocoPhillips Stock Up 0.4 %

COP opened at $102.77 on Wednesday. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The firm’s 50 day simple moving average is $108.57 and its two-hundred day simple moving average is $110.07. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $118.28 billion, a PE ratio of 12.18, a PEG ratio of 0.85 and a beta of 1.18.

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 return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter last year, the company earned $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 forecast that ConocoPhillips will post 7.76 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.04%. The ex-dividend date was Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend 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.