Prime Capital Investment Advisors LLC Sells 492 Shares of ConocoPhillips (NYSE:COP)

Prime Capital Investment Advisors LLC lowered its position in shares of ConocoPhillips (NYSE:COP) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,016 shares of the energy producer’s stock after selling 492 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in ConocoPhillips were worth $2,423,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in COP. Price T Rowe Associates Inc. MD lifted its position in ConocoPhillips by 35.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after buying an additional 8,479,963 shares during the period. Capital International Investors lifted its position in ConocoPhillips by 9.6% during the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after buying an additional 1,856,085 shares during the period. International Assets Investment Management LLC lifted its position in ConocoPhillips by 10,634.2% during the third quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer’s stock valued at $126,933,000 after buying an additional 1,194,434 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of ConocoPhillips by 19.3% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,811,289 shares of the energy producer’s stock worth $717,093,000 after purchasing an additional 1,101,685 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of ConocoPhillips by 46.0% in the 1st quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock worth $409,833,000 after purchasing an additional 1,015,158 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 1.1 %

COP opened at $111.82 on Thursday. 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 has a 1-year low of $101.29 and a 1-year high of $135.18. The company has a market capitalization of $128.69 billion, a PE ratio of 13.30, a PEG ratio of 0.90 and a beta of 1.21. The firm’s 50 day simple moving average is $107.71 and its two-hundred day simple moving average is $111.90.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $13.97 billion. During the same period last year, the firm earned $2.16 earnings per share. The company’s quarterly revenue was down 8.5% on a year-over-year basis. As a group, equities analysts forecast that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be given a $0.78 dividend. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.79%. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Wall Street Analysts Forecast Growth

COP has been the subject of several recent analyst reports. Wolfe Research initiated coverage on ConocoPhillips in a research report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research report on Friday, September 13th. Sanford C. Bernstein lowered their price target on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Barclays lifted their price target on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Scotiabank lowered their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $137.47.

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.