Royal London Asset Management Ltd. Has $62.08 Million Holdings in ConocoPhillips (NYSE:COP)

Royal London Asset Management Ltd. raised its holdings in shares of ConocoPhillips (NYSE:COP) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 589,687 shares of the energy producer’s stock after buying an additional 6,951 shares during the quarter. Royal London Asset Management Ltd.’s holdings in ConocoPhillips were worth $62,082,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips during the third quarter worth approximately $26,000. Stephens Consulting LLC lifted its holdings in shares of 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 buying an additional 104 shares during the last quarter. Reston Wealth Management LLC acquired a new position in shares of ConocoPhillips during the third quarter worth approximately $31,000. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips during the third quarter worth approximately $31,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of ConocoPhillips during the second quarter valued at approximately $35,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COP has been the topic of a number of research reports. Susquehanna boosted their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Truist Financial decreased their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. Finally, 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. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $137.44.

ConocoPhillips Stock Performance

COP opened at $104.44 on Friday. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The stock has a market cap of $120.20 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 0.87 and a beta of 1.18. The business has a 50 day moving average of $108.64 and a 200-day moving average of $110.43. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last released 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 company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same period last year, the firm posted $2.16 earnings per share. The business’s revenue was down 8.5% on a year-over-year basis. On average, equities research analysts expect that ConocoPhillips will post 7.76 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.99%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) 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.