Meeder Advisory Services Inc. Cuts Stake in ConocoPhillips (NYSE:COP)

Meeder Advisory Services Inc. lowered its stake in shares of ConocoPhillips (NYSE:COP) by 2.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,361 shares of the energy producer’s stock after selling 698 shares during the period. Meeder Advisory Services Inc.’s holdings in ConocoPhillips were worth $2,565,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of COP. Values First Advisors Inc. purchased a new stake in shares of ConocoPhillips during the third quarter worth about $26,000. Stephens Consulting LLC boosted its position in ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares during the last quarter. Reston Wealth Management LLC acquired a new position in ConocoPhillips during the third quarter worth about $31,000. Y.D. More Investments Ltd acquired a new position in ConocoPhillips during the second quarter worth about $35,000. Finally, Fairway Wealth LLC boosted its position in ConocoPhillips by 95.6% during the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after acquiring an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP opened at $112.75 on Monday. The stock has a market cap of $129.77 billion, a P/E ratio of 13.36, a PEG ratio of 0.92 and a beta of 1.21. ConocoPhillips has a 12-month low of $101.29 and a 12-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. The company has a 50-day moving average of $108.01 and a two-hundred day moving average of $111.59.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.16 earnings per share. As a group, research 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. Investors of record on Monday, November 11th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.77%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. ConocoPhillips’s payout ratio is presently 37.10%.

Analysts Set New Price Targets

COP has been the topic of a number of recent research reports. UBS Group lowered their price target 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. BMO Capital Markets boosted their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Mizuho boosted their target price on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Susquehanna boosted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Finally, Scotiabank decreased their target price 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. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $137.63.

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.