Balentine LLC Has $648,000 Stock Position in ConocoPhillips (NYSE:COP)

Balentine LLC grew its stake in shares of ConocoPhillips (NYSE:COP) by 48.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 6,153 shares of the energy producer’s stock after purchasing an additional 2,020 shares during the quarter. Balentine LLC’s holdings in ConocoPhillips were worth $648,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in COP. Geneos Wealth Management Inc. lifted its holdings in shares of ConocoPhillips by 23.7% during the first quarter. Geneos Wealth Management Inc. now owns 8,129 shares of the energy producer’s stock worth $1,035,000 after buying an additional 1,557 shares in the last quarter. SPC Financial Inc. raised its stake in ConocoPhillips by 6.6% in the 1st quarter. SPC Financial Inc. now owns 3,227 shares of the energy producer’s stock worth $411,000 after purchasing an additional 200 shares in the last quarter. Broderick Brian C boosted its holdings in ConocoPhillips by 23.5% in the 1st quarter. Broderick Brian C now owns 5,150 shares of the energy producer’s stock valued at $655,000 after purchasing an additional 981 shares during the period. Flossbach Von Storch AG grew its position in shares of ConocoPhillips by 2.3% during the 1st quarter. Flossbach Von Storch AG now owns 237,448 shares of the energy producer’s stock worth $30,222,000 after purchasing an additional 5,406 shares in the last quarter. Finally, Advisory Alpha LLC raised its position in shares of ConocoPhillips by 1.2% in the first quarter. Advisory Alpha LLC now owns 8,598 shares of the energy producer’s stock valued at $1,094,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity

In related news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP opened at $109.22 on Wednesday. The stock’s 50-day moving average is $107.78 and its 200-day moving average is $112.52. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. 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 stock has a market cap of $125.70 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 0.88 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating 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 net margin of 17.29% and a return on equity of 19.53%. The company’s revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.16 EPS. Equities research analysts anticipate that ConocoPhillips will post 7.78 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. Shareholders of record on Monday, November 11th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 27.59%.

Analyst Ratings Changes

COP has been the topic of a number of analyst reports. Barclays increased their price target on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Mizuho upped their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Susquehanna raised their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Scotiabank decreased their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $137.47.

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.