1,024 Shares in ConocoPhillips (NYSE:COP) Bought by FSA Wealth Management LLC

FSA Wealth Management LLC acquired a new stake in ConocoPhillips (NYSE:COP) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 1,024 shares of the energy producer’s stock, valued at approximately $108,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Erste Asset Management GmbH purchased a new stake in shares of ConocoPhillips during the 3rd quarter valued at about $7,017,000. True Wealth Design LLC grew its position in ConocoPhillips by 89.3% in the third quarter. True Wealth Design LLC now owns 653 shares of the energy producer’s stock valued at $69,000 after acquiring an additional 308 shares in the last quarter. Semmax Financial Advisors Inc. raised its stake in shares of ConocoPhillips by 10.9% during the third quarter. Semmax Financial Advisors Inc. now owns 10,851 shares of the energy producer’s stock valued at $1,209,000 after purchasing an additional 1,070 shares during the period. Encompass More Asset Management raised its stake in shares of ConocoPhillips by 14.7% during the third quarter. Encompass More Asset Management now owns 5,146 shares of the energy producer’s stock valued at $542,000 after purchasing an additional 659 shares during the period. Finally, Point72 Europe London LLP lifted its position in shares of ConocoPhillips by 32.2% during the third quarter. Point72 Europe London LLP now owns 315,529 shares of the energy producer’s stock worth $33,219,000 after purchasing an additional 76,845 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on COP. Scotiabank lowered their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. BMO Capital Markets raised their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. UBS Group cut their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Barclays raised 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. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $126.00 target price (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Six equities 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $137.63.

ConocoPhillips Trading Up 0.9 %

NYSE COP opened at $108.34 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The company has a 50-day simple moving average of $108.77 and a 200-day simple moving average of $110.79. The firm has a market capitalization of $124.69 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 0.89 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips’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. On average, equities analysts forecast that ConocoPhillips will post 7.76 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be given a $0.78 dividend. The ex-dividend date of this dividend is Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.88%. ConocoPhillips’s dividend payout ratio (DPR) is currently 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.