Larson Financial Group LLC Grows Position in ConocoPhillips (NYSE:COP)

Larson Financial Group LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 13.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 23,659 shares of the energy producer’s stock after purchasing an additional 2,724 shares during the quarter. Larson Financial Group LLC’s holdings in ConocoPhillips were worth $2,491,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of COP. Legal & General Group Plc boosted its position in shares of ConocoPhillips by 4.6% during the 2nd quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock valued at $1,132,430,000 after acquiring an additional 438,241 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in ConocoPhillips by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,096,450 shares of the energy producer’s stock valued at $747,114,000 after buying an additional 153,944 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position in ConocoPhillips by 19.3% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,811,289 shares of the energy producer’s stock valued at $717,093,000 after buying an additional 1,101,685 shares during the last quarter. Pacer Advisors Inc. lifted its position in ConocoPhillips by 5,422.3% in the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock valued at $482,996,000 after buying an additional 4,504,653 shares during the last quarter. Finally, Boston Partners lifted its position in ConocoPhillips by 10.3% in the first quarter. Boston Partners now owns 4,451,796 shares of the energy producer’s stock valued at $567,111,000 after buying an additional 415,878 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.1 %

Shares of COP stock opened at $111.75 on Monday. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The firm has a 50-day moving average price of $108.91 and a 200 day moving average price of $111.23. 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 company has a market capitalization of $128.61 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.91 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last posted 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. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the prior year, the company posted $2.16 EPS. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. Research analysts forecast that ConocoPhillips will post 7.78 earnings per share for the current fiscal 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 paid a dividend of $0.78 per share. The ex-dividend date is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.79%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 37.10%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Barclays boosted their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Susquehanna increased their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Truist Financial dropped their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Finally, BMO Capital Markets increased their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $137.63.

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.