Diversified LLC Has $256,000 Position in ConocoPhillips (NYSE:COP)

Diversified LLC raised its stake in ConocoPhillips (NYSE:COP) by 9.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,428 shares of the energy producer’s stock after buying an additional 200 shares during the quarter. Diversified LLC’s holdings in ConocoPhillips were worth $256,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in COP. Fisher Asset Management LLC increased its holdings in ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock worth $1,311,369,000 after buying an additional 4,656,040 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of ConocoPhillips by 5,422.3% during the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after purchasing an additional 4,504,653 shares during the last quarter. Primecap Management Co. CA increased its stake in shares of ConocoPhillips by 48.9% during the 3rd quarter. Primecap Management Co. CA now owns 4,320,905 shares of the energy producer’s stock worth $454,905,000 after purchasing an additional 1,418,900 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of ConocoPhillips by 10,634.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer’s stock valued at $126,933,000 after purchasing an additional 1,194,434 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its stake in shares of ConocoPhillips by 19.3% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,811,289 shares of the energy producer’s stock valued at $717,093,000 after purchasing an additional 1,101,685 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the topic of several recent research reports. BMO Capital Markets raised their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Barclays raised their price objective on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Finally, UBS Group lowered their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Six 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 company’s stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $137.63.

ConocoPhillips Price Performance

Shares of COP stock opened at $106.03 on Tuesday. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The company has a market capitalization of $122.03 billion, a P/E ratio of 12.61, a P/E/G ratio of 0.91 and a beta of 1.21. The stock has a 50 day moving average of $108.92 and a two-hundred day moving average of $111.11. 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 (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period last year, the business earned $2.16 earnings per share. As a group, equities analysts expect that ConocoPhillips will post 7.78 EPS for the current year.

ConocoPhillips Increases Dividend

The firm 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 $0.78 dividend. The ex-dividend date is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 2.94%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is presently 37.10%.

ConocoPhillips 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.