MQS Management LLC Has $1.27 Million Position in ConocoPhillips (NYSE:COP)

MQS Management LLC grew its stake in shares of ConocoPhillips (NYSE:COP) by 286.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,102 shares of the energy producer’s stock after buying an additional 8,967 shares during the period. ConocoPhillips makes up 0.7% of MQS Management LLC’s portfolio, making the stock its 3rd biggest position. MQS Management LLC’s holdings in ConocoPhillips were worth $1,274,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of COP. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in ConocoPhillips by 4.2% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 50,075 shares of the energy producer’s stock worth $6,374,000 after purchasing an additional 2,041 shares in the last quarter. Texas Yale Capital Corp. increased its position in shares of ConocoPhillips by 8.9% during the first quarter. Texas Yale Capital Corp. now owns 2,170 shares of the energy producer’s stock worth $276,000 after acquiring an additional 177 shares in the last quarter. D Orazio & Associates Inc. acquired a new stake in shares of ConocoPhillips during the first quarter worth $257,000. TBH Global Asset Management LLC lifted its position in ConocoPhillips by 34.5% in the 1st quarter. TBH Global Asset Management LLC now owns 28,486 shares of the energy producer’s stock valued at $3,626,000 after acquiring an additional 7,308 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. boosted its stake in ConocoPhillips by 1.8% in the 1st quarter. Beacon Investment Advisory Services Inc. now owns 72,706 shares of the energy producer’s stock worth $9,254,000 after purchasing an additional 1,277 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

COP has been the topic of a number of research reports. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Scotiabank reduced their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Barclays lifted their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Truist Financial reduced their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $137.47.

ConocoPhillips Trading Down 1.3 %

Shares of NYSE:COP opened at $110.64 on Wednesday. The company has a 50-day simple moving average of $107.71 and a 200 day simple moving average of $111.90. The company has a market capitalization of $127.34 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18.

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 company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.16 EPS. Sell-side analysts forecast that ConocoPhillips will post 7.8 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be given a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.82%. ConocoPhillips’s dividend payout ratio is presently 37.10%.

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.