Aviva PLC Reduces Holdings in ConocoPhillips $COP

Aviva PLC lowered its stake in shares of ConocoPhillips (NYSE:COP) by 2.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,826 shares of the energy producer’s stock after selling 973 shares during the quarter. Aviva PLC’s holdings in ConocoPhillips were worth $4,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of COP. RWA Wealth Partners LLC grew its holdings in shares of ConocoPhillips by 60.4% during the 2nd quarter. RWA Wealth Partners LLC now owns 10,292 shares of the energy producer’s stock worth $924,000 after acquiring an additional 3,877 shares during the period. AGF Management Ltd. bought a new stake in shares of ConocoPhillips during the second quarter valued at approximately $3,274,000. AE Wealth Management LLC grew its stake in ConocoPhillips by 164.5% in the second quarter. AE Wealth Management LLC now owns 49,843 shares of the energy producer’s stock worth $4,473,000 after purchasing an additional 31,000 shares during the period. Paradigm Asset Management Co. LLC grew its stake in ConocoPhillips by 2.5% in the second quarter. Paradigm Asset Management Co. LLC now owns 12,200 shares of the energy producer’s stock worth $1,095,000 after purchasing an additional 300 shares during the period. Finally, Fox Run Management L.L.C. bought a new position in ConocoPhillips in the second quarter worth $340,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Raymond James Financial reduced their target price on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. Melius assumed coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective on the stock. Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. JPMorgan Chase & Co. dropped their price target on ConocoPhillips from $115.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday, November 7th. Finally, Wells Fargo & Company began coverage on ConocoPhillips in a research report on Friday, October 17th. They set an “equal weight” rating and a $100.00 price objective for the company. Eighteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $115.33.

ConocoPhillips Trading Down 1.9%

ConocoPhillips stock opened at $89.00 on Thursday. ConocoPhillips has a one year low of $79.88 and a one year high of $115.38. The business’s fifty day moving average is $91.08 and its 200 day moving average is $91.96. The stock has a market capitalization of $109.97 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58. 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 announced its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm had revenue of $15.03 billion for the quarter, compared to the consensus estimate of $14.51 billion. During the same quarter last year, the firm posted $1.78 EPS. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, November 17th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s payout ratio is currently 47.52%.

Insider Activity

In other news, Director William H. Mcraven acquired 5,768 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was bought at an average price of $86.68 per share, with a total value of $499,970.24. Following the completion of the acquisition, the director directly owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.24% of the stock is currently owned by company insiders.

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.