ConocoPhillips $COP Shares Bought by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. grew its position in ConocoPhillips (NYSE:COP) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 425,685 shares of the energy producer’s stock after purchasing an additional 6,356 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in ConocoPhillips were worth $38,201,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in shares of ConocoPhillips by 379.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after acquiring an additional 31,736,423 shares in the last quarter. Wellington Management Group LLP boosted its holdings in ConocoPhillips by 1.4% in the first quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock valued at $3,319,746,000 after purchasing an additional 437,709 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in ConocoPhillips by 30.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after purchasing an additional 2,080,625 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of ConocoPhillips by 15.1% during the 1st quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock worth $861,490,000 after buying an additional 1,073,906 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of ConocoPhillips by 3.8% in the 2nd quarter. Boston Partners now owns 6,411,539 shares of the energy producer’s stock valued at $576,332,000 after buying an additional 232,117 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 2.3%

Shares of ConocoPhillips stock opened at $91.44 on Friday. ConocoPhillips has a one year low of $79.88 and a one year high of $115.38. The company has a market cap of $112.99 billion, a P/E ratio of 12.27, a PEG ratio of 2.36 and a beta of 0.58. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The firm has a fifty day moving average of $90.93 and a two-hundred day moving average of $91.93.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $14.51 billion. During the same period in the prior year, the company posted $1.78 earnings per share. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a dividend of $0.84 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, November 17th. ConocoPhillips’s dividend payout ratio is currently 47.52%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director William H. Mcraven bought 5,768 shares of ConocoPhillips stock in a transaction 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 owned 5,768 shares in the company, valued at $499,970.24. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on COP. Mizuho reduced their price target on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Evercore ISI decreased their target price on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research report on Monday, October 6th. BMO Capital Markets cut their price target on ConocoPhillips from $122.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday. Royal Bank Of Canada increased their price objective on ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Finally, Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Eighteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $115.33.

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.