ConocoPhillips $COP Shares Acquired by Gemmer Asset Management LLC

Gemmer Asset Management LLC increased its stake in ConocoPhillips (NYSE:COP) by 284.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,052 shares of the energy producer’s stock after purchasing an additional 6,699 shares during the period. Gemmer Asset Management LLC’s holdings in ConocoPhillips were worth $1,133,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Alpine Bank Wealth Management raised its position in shares of ConocoPhillips by 19.3% during the third quarter. Alpine Bank Wealth Management now owns 3,201 shares of the energy producer’s stock worth $443,000 after acquiring an additional 517 shares during the last quarter. Sterling Investment Management LLC acquired a new position in shares of ConocoPhillips during the third quarter valued at $609,000. Aull & Monroe Investment Management Corp lifted its stake in shares of ConocoPhillips by 30.8% during the third quarter. Aull & Monroe Investment Management Corp now owns 22,710 shares of the energy producer’s stock valued at $2,842,000 after acquiring an additional 5,350 shares during the period. Hengehold Capital Management LLC boosted its holdings in ConocoPhillips by 194.5% in the third quarter. Hengehold Capital Management LLC now owns 7,325 shares of the energy producer’s stock valued at $917,000 after acquiring an additional 4,838 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted its holdings in ConocoPhillips by 1,389.5% in the third quarter. TD Waterhouse Canada Inc. now owns 850,987 shares of the energy producer’s stock valued at $106,501,000 after acquiring an additional 793,856 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP opened at $146.43 on Friday. The company has a fifty day moving average price of $132.11 and a two-hundred day moving average price of $122.44. The firm has a market capitalization of $175.92 billion, a PE ratio of 19.37, a P/E/G ratio of 1.45 and a beta of 0.24. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $146.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. The company had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The firm’s quarterly revenue was up 32.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.42 EPS. As a group, analysts anticipate that ConocoPhillips will post 11.19 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were paid a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.3%. ConocoPhillips’s payout ratio is 44.44%.

Insider Buying and Selling

In related news, SVP Andrew Lundquist sold 9,487 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the sale, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank Of Canada set a $130.00 price objective on ConocoPhillips in a research report on Monday, June 22nd. Stifel Nicolaus started coverage on ConocoPhillips in a report on Thursday, September 10th. They set a “hold” rating and a $148.00 price objective for the company. Wells Fargo & Company upped their target price on shares of ConocoPhillips from $183.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Zacks Research upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Finally, Roth Capital raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and raised their target price for the company from $124.00 to $130.00 in a research note on Monday, June 22nd. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.62.

ConocoPhillips Company Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.