First Commonwealth Financial Corp PA Has $299,000 Stock Position in ConocoPhillips (NYSE:COP)

First Commonwealth Financial Corp PA boosted its stake in ConocoPhillips (NYSE:COP) by 18.3% in the third quarter, Holdings Channel reports. The firm owned 2,841 shares of the energy producer’s stock after purchasing an additional 439 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in ConocoPhillips were worth $299,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of COP. Strategic Wealth Partners Ltd. acquired a new position in shares of ConocoPhillips in the 1st quarter valued at approximately $222,000. LRI Investments LLC bought a new position in ConocoPhillips in the first quarter valued at approximately $58,000. Swedbank AB acquired a new position in ConocoPhillips during the first quarter valued at approximately $66,495,000. Cetera Investment Advisers lifted its stake in ConocoPhillips by 318.1% during the first quarter. Cetera Investment Advisers now owns 287,127 shares of the energy producer’s stock worth $36,546,000 after purchasing an additional 218,453 shares during the last quarter. Finally, Cetera Advisors LLC boosted its holdings in shares of ConocoPhillips by 50.5% in the 1st quarter. Cetera Advisors LLC now owns 68,844 shares of the energy producer’s stock valued at $8,763,000 after purchasing an additional 23,115 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.6 %

Shares of COP opened at $107.42 on Thursday. The company has a market capitalization of $123.63 billion, a PE ratio of 12.77, a PEG ratio of 0.87 and a beta of 1.21. The stock’s 50-day moving average price is $108.86 and its two-hundred day moving average price is $110.98. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 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 company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same period in the previous year, the firm earned $2.16 earnings per share. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. On average, analysts anticipate that ConocoPhillips will post 7.76 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Analyst Ratings Changes

COP has been the subject of a number of research analyst reports. Barclays boosted their price target on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Susquehanna boosted their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. UBS Group dropped their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Scotiabank decreased their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Finally, Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently 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.