Farther Finance Advisors LLC Acquires 2,007 Shares of ConocoPhillips (NYSE:COP)

Farther Finance Advisors LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 19.8% in the 3rd quarter, Holdings Channel reports. The firm owned 12,153 shares of the energy producer’s stock after purchasing an additional 2,007 shares during the quarter. Farther Finance Advisors LLC’s holdings in ConocoPhillips were worth $1,279,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Manning & Napier Advisors LLC purchased a new stake in shares of ConocoPhillips in the second quarter valued at approximately $30,021,000. EP Wealth Advisors LLC grew its position in shares of ConocoPhillips by 19.1% during the 1st quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock worth $3,640,000 after buying an additional 4,578 shares in the last quarter. Alpha DNA Investment Management LLC increased its stake in shares of ConocoPhillips by 83.8% during the second quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock valued at $1,879,000 after buying an additional 7,490 shares during the period. TCW Group Inc. raised its holdings in shares of ConocoPhillips by 37.8% in the second quarter. TCW Group Inc. now owns 30,026 shares of the energy producer’s stock valued at $3,434,000 after acquiring an additional 8,231 shares in the last quarter. Finally, Doheny Asset Management CA purchased a new stake in ConocoPhillips in the second quarter worth about $815,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

ConocoPhillips Stock Down 1.6 %

Shares of COP stock opened at $107.84 on Monday. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The firm has a market capitalization of $125.23 billion, a PE ratio of 12.82, a P/E/G ratio of 0.90 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.30. The stock’s 50-day simple moving average is $107.94 and its 200-day simple moving average is $112.80.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.16 earnings per share. Equities analysts expect that ConocoPhillips will post 7.76 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be paid a $0.78 dividend. 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 dividend on an annualized basis and a dividend yield of 2.89%. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Wall Street Analyst Weigh In

COP has been the topic of a number of research reports. BMO Capital Markets raised their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Sanford C. Bernstein cut their price target on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Wolfe Research started 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. UBS Group cut their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $137.47.

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.