Brown Brothers Harriman & Co. Has $591,000 Stake in ConocoPhillips (NYSE:COP)

Brown Brothers Harriman & Co. boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 12.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,616 shares of the energy producer’s stock after buying an additional 631 shares during the period. Brown Brothers Harriman & Co.’s holdings in ConocoPhillips were worth $591,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Loomis Sayles & Co. L P boosted its holdings in ConocoPhillips by 6.6% during the third quarter. Loomis Sayles & Co. L P now owns 1,953 shares of the energy producer’s stock valued at $206,000 after purchasing an additional 121 shares in the last quarter. Bedell Frazier Investment Counselling LLC lifted its position in shares of ConocoPhillips by 1.8% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 56,079 shares of the energy producer’s stock worth $5,904,000 after buying an additional 1,012 shares during the period. Fisher Asset Management LLC boosted its stake in ConocoPhillips by 59.7% in the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after buying an additional 4,656,040 shares in the last quarter. Daiwa Securities Group Inc. grew its position in ConocoPhillips by 10.2% in the third quarter. Daiwa Securities Group Inc. now owns 167,966 shares of the energy producer’s stock valued at $17,683,000 after acquiring an additional 15,487 shares during the period. Finally, Garner Asset Management Corp raised its stake in ConocoPhillips by 24.5% during the third quarter. Garner Asset Management Corp now owns 22,056 shares of the energy producer’s stock worth $2,322,000 after acquiring an additional 4,346 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $106.80 on Wednesday. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The company’s 50-day moving average is $108.89 and its two-hundred day moving average is $111.01. 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 cap of $122.92 billion, a PE ratio of 12.70, a PEG ratio of 0.87 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion for 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 business’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period last year, the firm earned $2.16 earnings per share. Equities analysts anticipate that ConocoPhillips will post 7.76 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.92%. ConocoPhillips’s payout ratio is 37.10%.

Analysts Set New Price Targets

Several brokerages have recently commented on COP. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. Susquehanna boosted their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Mizuho raised their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Barclays boosted their target price on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Truist Financial dropped their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $137.63.

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.