Erste Asset Management GmbH Makes New $7.02 Million Investment in ConocoPhillips (NYSE:COP)

Erste Asset Management GmbH purchased a new stake in shares of ConocoPhillips (NYSE:COP) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 67,100 shares of the energy producer’s stock, valued at approximately $7,017,000.

Several other institutional investors also recently modified their holdings of COP. Values First Advisors Inc. bought a new position in ConocoPhillips during the 3rd quarter valued at about $26,000. Stephens Consulting LLC boosted its holdings in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares during the last quarter. Reston Wealth Management LLC bought a new stake in ConocoPhillips in the 3rd quarter worth approximately $31,000. Truvestments Capital LLC purchased a new stake in ConocoPhillips during the 3rd quarter valued at $31,000. Finally, Y.D. More Investments Ltd purchased a new stake in ConocoPhillips during the 2nd quarter valued at $35,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on COP. Barclays lifted their price objective on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Susquehanna upped their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. JPMorgan Chase & Co. restated a “neutral” rating and set a $126.00 target price (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Finally, UBS Group decreased 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. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $137.63.

ConocoPhillips Stock Performance

NYSE:COP opened at $108.34 on Monday. The stock has a 50-day moving average price of $108.77 and a 200 day moving average price of $110.72. The stock has a market capitalization of $124.69 billion, a P/E ratio of 12.88, a P/E/G ratio of 0.89 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.

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 net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period last year, the firm posted $2.16 EPS. The company’s revenue was down 8.5% on a year-over-year basis. Equities research analysts forecast that ConocoPhillips will post 7.76 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be issued a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Friday, November 8th. ConocoPhillips’s payout ratio is currently 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.