ConocoPhillips (NYSE:COP) Shares Purchased by Tower Bridge Advisors

Tower Bridge Advisors increased its holdings in ConocoPhillips (NYSE:COP) by 24.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,479 shares of the energy producer’s stock after buying an additional 1,481 shares during the period. Tower Bridge Advisors’ holdings in ConocoPhillips were worth $787,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of COP. M&G Plc acquired a new position in ConocoPhillips in the 1st quarter worth approximately $6,308,000. Westfield Capital Management Co. LP increased its holdings in ConocoPhillips by 6.6% in the 1st quarter. Westfield Capital Management Co. LP now owns 46,234 shares of the energy producer’s stock worth $5,885,000 after buying an additional 2,866 shares during the period. Resurgent Financial Advisors LLC grew its stake in shares of ConocoPhillips by 3.4% during the 1st quarter. Resurgent Financial Advisors LLC now owns 18,755 shares of the energy producer’s stock worth $2,387,000 after purchasing an additional 614 shares during the period. Davis R M Inc. grew its stake in shares of ConocoPhillips by 4.7% during the 1st quarter. Davis R M Inc. now owns 388,700 shares of the energy producer’s stock worth $49,474,000 after purchasing an additional 17,443 shares during the period. Finally, Trustmark National Bank Trust Department grew its stake in shares of ConocoPhillips by 14.6% during the 1st quarter. Trustmark National Bank Trust Department now owns 17,222 shares of the energy producer’s stock worth $2,192,000 after purchasing an additional 2,200 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.5 %

Shares of NYSE:COP opened at $112.32 on Friday. The business has a 50-day moving average price of $108.01 and a 200 day moving average price of $111.68. 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 company has a market capitalization of $129.27 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 0.92 and a beta of 1.21. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating 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%. ConocoPhillips’s revenue 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 expect that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently announced 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 is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, November 8th. ConocoPhillips’s payout ratio is currently 37.10%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Mizuho raised their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $126.00 price objective (down previously from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Barclays increased their target price on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Scotiabank decreased their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average 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.