King Luther Capital Management Corp Grows Position in ConocoPhillips (NYSE:COP)

King Luther Capital Management Corp boosted its holdings in ConocoPhillips (NYSE:COP) by 2.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,316,602 shares of the energy producer’s stock after buying an additional 56,696 shares during the quarter. ConocoPhillips comprises approximately 1.0% of King Luther Capital Management Corp’s investment portfolio, making the stock its 26th biggest holding. King Luther Capital Management Corp’s holdings in ConocoPhillips were worth $243,892,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Values First Advisors Inc. purchased a new position in ConocoPhillips in the 3rd quarter worth approximately $26,000. Stephens Consulting LLC lifted its holdings in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares during the last quarter. Reston Wealth Management LLC bought a new position in shares of ConocoPhillips during the third quarter valued at approximately $31,000. Y.D. More Investments Ltd bought a new stake in shares of ConocoPhillips in the 2nd quarter worth approximately $35,000. Finally, Fairway Wealth LLC grew its position in shares of ConocoPhillips by 95.6% during the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after acquiring an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

COP stock opened at $113.43 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. The business’s 50-day moving average price is $108.57 and its two-hundred day moving average price is $111.48. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The firm has a market cap of $130.55 billion, a PE ratio of 13.49, a P/E/G ratio of 0.92 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter in the prior year, the company earned $2.16 EPS. The company’s revenue was down 8.5% on a year-over-year basis. As a group, research analysts forecast that ConocoPhillips will post 7.8 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be given a dividend of $0.78 per share. The ex-dividend date is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.75%. ConocoPhillips’s dividend payout ratio is 37.10%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Truist Financial reduced their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Barclays upped their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Mizuho upped their price target on ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, November 1st. BMO Capital Markets lifted their price objective on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $137.63.

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.