ConocoPhillips $COP Shares Bought by Primecap Management Co. CA

Primecap Management Co. CA grew its position in ConocoPhillips (NYSE:COP) by 66.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,883,455 shares of the energy producer’s stock after purchasing an additional 3,135,315 shares during the period. Primecap Management Co. CA owned approximately 0.62% of ConocoPhillips worth $707,461,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of COP. Aberdeen Group plc raised its stake in shares of ConocoPhillips by 49.3% in the 1st quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock valued at $83,969,000 after acquiring an additional 264,726 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in ConocoPhillips by 17.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer’s stock valued at $13,927,000 after purchasing an additional 22,827 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in ConocoPhillips by 2.4% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,395,546 shares of the energy producer’s stock valued at $304,716,000 after purchasing an additional 78,642 shares during the period. GAMMA Investing LLC grew its stake in shares of ConocoPhillips by 22.4% in the second quarter. GAMMA Investing LLC now owns 34,534 shares of the energy producer’s stock valued at $3,099,000 after buying an additional 6,309 shares in the last quarter. Finally, Focus Partners Wealth raised its holdings in shares of ConocoPhillips by 36.2% during the 1st quarter. Focus Partners Wealth now owns 128,601 shares of the energy producer’s stock valued at $13,506,000 after buying an additional 34,195 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on COP shares. Raymond James Financial lowered their price objective on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. Royal Bank Of Canada upped their target price on shares of ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. BMO Capital Markets dropped their price target on shares of ConocoPhillips from $122.00 to $117.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Mizuho cut their price objective on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Finally, Susquehanna decreased their price objective on shares of ConocoPhillips to $113.00 and set a “positive” rating for the company in a research report on Monday, October 20th. Eighteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $115.33.

Insider Transactions at ConocoPhillips

In other news, Director William H. Mcraven purchased 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, with a total value of $499,970.24. Following the completion of the acquisition, the director owned 5,768 shares in the company, valued at $499,970.24. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.24% of the company’s stock.

ConocoPhillips Stock Up 1.0%

Shares of ConocoPhillips stock opened at $89.64 on Wednesday. The business has a 50-day moving average price of $90.83 and a 200 day moving average price of $91.93. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38. The firm has a market cap of $110.77 billion, a P/E ratio of 12.03, a P/E/G ratio of 2.36 and a beta of 0.58. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

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

ConocoPhillips Increases Dividend

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

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.