ConocoPhillips $COP Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its holdings in shares of ConocoPhillips (NYSE:COP) by 11.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,694,533 shares of the energy producer’s stock after buying an additional 167,696 shares during the period. Russell Investments Group Ltd. owned 0.14% of ConocoPhillips worth $212,078,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Valued Wealth Advisors LLC grew its holdings in ConocoPhillips by 22.0% in the third quarter. Valued Wealth Advisors LLC now owns 427 shares of the energy producer’s stock worth $53,000 after purchasing an additional 77 shares during the period. Bfsg LLC increased its stake in shares of ConocoPhillips by 34.8% during the third quarter. Bfsg LLC now owns 302 shares of the energy producer’s stock valued at $38,000 after purchasing an additional 78 shares in the last quarter. Warwick Investment Management Inc. lifted its holdings in shares of ConocoPhillips by 2.1% during the third quarter. Warwick Investment Management Inc. now owns 4,066 shares of the energy producer’s stock valued at $509,000 after purchasing an additional 82 shares during the last quarter. Kennebec Savings Bank lifted its holdings in shares of ConocoPhillips by 1.3% during the third quarter. Kennebec Savings Bank now owns 6,828 shares of the energy producer’s stock valued at $855,000 after purchasing an additional 85 shares during the last quarter. Finally, Cornerstone Planning Group LLC boosted its position in shares of ConocoPhillips by 9.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock worth $124,000 after purchasing an additional 88 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP opened at $140.13 on Friday. The company has a market capitalization of $165.68 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 1.26 and a beta of 0.16. The company has a quick ratio of 1.37, a current ratio of 1.52 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average of $137.15 and a 200 day moving average of $122.89. ConocoPhillips has a twelve month low of $85.70 and a twelve month high of $154.28.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, November 5th. The energy producer reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.05 by $0.22. ConocoPhillips had a return on equity of 17.60% and a net margin of 16.55%. The business had revenue of $19.43 billion for the quarter, compared to analysts’ expectations of $18.59 billion. During the same period in the prior year, the firm posted $1.61 EPS. The firm’s quarterly revenue was up 29.2% on a year-over-year basis. As a group, equities research analysts anticipate that ConocoPhillips will post 12.13 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be paid a $0.93 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.84. This represents a $3.72 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, November 16th. ConocoPhillips’s dividend payout ratio (DPR) is presently 35.29%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Argus raised their price objective on ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Seaport Research Partners began coverage on ConocoPhillips in a research note on Thursday, September 3rd. They set a “neutral” rating for the company. Morgan Stanley boosted their target price on ConocoPhillips from $151.00 to $159.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. Susquehanna increased their target price on ConocoPhillips from $161.00 to $175.00 and gave the stock a “positive” rating in a research note on Tuesday, October 20th. Finally, Freedom Capital upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $144.73.

Key ConocoPhillips News

Investors following COP have been watching these news items:

• Positive Sentiment: The company raised its dividend by 11% and is returning substantial cash through buybacks. Its latest reported quarter also topped analyst expectations for earnings and revenue, supporting the case for continued cash generation. ConocoPhillips (COP) Stock Looks Like A Bargain After Fresh Results
• Neutral Sentiment: ConocoPhillips’ Permian president discussed efforts to get more value from each well; the report does not specify quantified results or a new production target. ConocoPhillips Permian president talks unlocking more value from every well
• Negative Sentiment: Freedom Broker also downgraded COP, from buy to hold, with a $138 target. Separately, the recent analysis cautions that the stock’s 127.4% five-year gain may have stretched its valuation relative to earnings. ConocoPhillips stock moved down to hold by Freedom Broker ConocoPhillips stock looks like a bargain after fresh results

Insider Activity

In other news, SVP Andrew Lundquist sold 9,487 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the transaction, the senior vice president directly owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.09% of the stock is currently owned by insiders.

About ConocoPhillips

ConocoPhillips is an independent exploration and production company focused on finding, developing and producing oil and natural gas. Its products include crude oil, natural gas, liquefied natural gas and natural gas liquids. The company operates in several regions, including North America, Europe, the Middle East, North Africa and the Asia-Pacific. Its activities span exploration, development and production, with a portfolio that includes both conventional and unconventional resources. ConocoPhillips was formed in 2002 through the merger of Conoco and Phillips Petroleum.