Diversify Wealth Management LLC Has $325,000 Stake in ConocoPhillips (NYSE:COP)

Diversify Wealth Management LLC raised its stake in ConocoPhillips (NYSE:COP) by 7.3% during the third quarter, HoldingsChannel.com reports. The fund owned 3,106 shares of the energy producer’s stock after acquiring an additional 212 shares during the quarter. Diversify Wealth Management LLC’s holdings in ConocoPhillips were worth $325,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Values First Advisors Inc. bought a new position in ConocoPhillips during the 3rd quarter valued at about $26,000. Stephens Consulting LLC raised its stake in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares during the last quarter. Ruedi Wealth Management Inc. boosted its holdings in shares of ConocoPhillips by 150.0% in the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Y.D. More Investments Ltd bought a new stake in ConocoPhillips during the 2nd quarter worth approximately $35,000. Finally, Fairway Wealth LLC increased its holdings in ConocoPhillips by 95.6% during the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after purchasing an additional 153 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on COP. UBS Group decreased their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Sanford C. Bernstein lowered their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Barclays upped their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday. Mizuho raised their price target on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a report on Friday. Finally, Susquehanna upped their price objective on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $137.47.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the transaction, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips Stock Performance

Shares of COP stock opened at $107.84 on Friday. The stock has a market cap of $125.23 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 0.84 and a beta of 1.21. The stock has a 50-day moving average of $107.94 and a 200-day moving average of $113.02. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.16 EPS. As a group, sell-side analysts expect that ConocoPhillips will post 7.76 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be given a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.89%. ConocoPhillips’s dividend payout ratio is currently 25.86%.

About ConocoPhillips

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.