ProShare Advisors LLC Has $25.04 Million Holdings in ConocoPhillips $COP

ProShare Advisors LLC increased its holdings in shares of ConocoPhillips (NYSE:COP) by 6.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 279,064 shares of the energy producer’s stock after purchasing an additional 17,486 shares during the quarter. ProShare Advisors LLC’s holdings in ConocoPhillips were worth $25,043,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in COP. Navalign LLC boosted its stake in shares of ConocoPhillips by 1.1% during the 2nd quarter. Navalign LLC now owns 9,918 shares of the energy producer’s stock worth $890,000 after buying an additional 108 shares during the last quarter. Tritonpoint Wealth LLC increased its position in shares of ConocoPhillips by 1.3% in the second quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock valued at $747,000 after acquiring an additional 110 shares during the last quarter. Iowa State Bank raised its holdings in ConocoPhillips by 0.5% during the second quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock worth $1,992,000 after acquiring an additional 110 shares in the last quarter. First National Bank Sioux Falls boosted its position in ConocoPhillips by 4.6% during the second quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock valued at $231,000 after purchasing an additional 113 shares during the last quarter. Finally, KLCM Advisors Inc. boosted its position in ConocoPhillips by 2.6% during the first quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock valued at $473,000 after purchasing an additional 115 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on COP shares. UBS Group lowered their price target on ConocoPhillips from $115.00 to $98.00 in a research report on Tuesday, October 28th. Capital One Financial raised their target price on shares of ConocoPhillips from $111.00 to $112.00 in a research note on Friday, October 3rd. Weiss Ratings upgraded shares of ConocoPhillips from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. Barclays cut their price target on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Finally, The Goldman Sachs Group decreased their price objective on shares of ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, October 17th. Eighteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $114.54.

ConocoPhillips Trading Up 2.8%

Shares of ConocoPhillips stock opened at $90.66 on Wednesday. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. The company has a market capitalization of $113.23 billion, a price-to-earnings ratio of 12.17, a P/E/G ratio of 2.36 and a beta of 0.58. The business has a fifty day simple moving average of $91.20 and a two-hundred day simple moving average of $91.98. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.20. The company had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.78 earnings per share. Research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 3.7%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date is Monday, November 17th. ConocoPhillips’s dividend payout ratio (DPR) is 47.52%.

Insider Activity

In other news, Director William H. Mcraven acquired 5,768 shares of ConocoPhillips stock in a transaction dated Monday, November 10th. The stock was bought at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the acquisition, the director directly owned 5,768 shares in the company, valued at approximately $499,970.24. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.24% of the stock is currently owned by corporate insiders.

About ConocoPhillips

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.