ConocoPhillips (NYSE:COP) Shares Purchased by Verus Capital Partners LLC

Verus Capital Partners LLC raised its holdings in ConocoPhillips (NYSE:COP) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,137 shares of the energy producer’s stock after acquiring an additional 102 shares during the quarter. Verus Capital Partners LLC’s holdings in ConocoPhillips were worth $541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in COP. Platform Technology Partners grew its holdings in shares of ConocoPhillips by 2.9% in the 3rd quarter. Platform Technology Partners now owns 13,424 shares of the energy producer’s stock worth $1,413,000 after acquiring an additional 375 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of ConocoPhillips by 63.6% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 77,597 shares of the energy producer’s stock worth $8,169,000 after buying an additional 30,157 shares during the period. First National Trust Co raised its holdings in shares of ConocoPhillips by 2.7% during the third quarter. First National Trust Co now owns 50,527 shares of the energy producer’s stock valued at $5,319,000 after acquiring an additional 1,336 shares during the period. Keystone Financial Services boosted its stake in ConocoPhillips by 23.4% in the 3rd quarter. Keystone Financial Services now owns 4,708 shares of the energy producer’s stock worth $496,000 after purchasing an additional 893 shares during the period. Finally, Lynx Investment Advisory grew its position in ConocoPhillips by 7.5% during the 3rd quarter. Lynx Investment Advisory now owns 2,733 shares of the energy producer’s stock worth $288,000 after purchasing an additional 191 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 1.3 %

ConocoPhillips stock opened at $110.64 on Wednesday. The business’s 50-day simple moving average is $107.69 and its 200-day simple moving average is $112.04. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18. The firm has a market capitalization of $127.34 billion, a PE ratio of 13.16, a PEG 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 (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. During the same period in the previous year, the company earned $2.16 earnings per share. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. Equities research analysts forecast that ConocoPhillips will post 7.8 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. Stockholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.82%. ConocoPhillips’s payout ratio is presently 37.10%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on COP shares. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. UBS Group lowered their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Wolfe Research assumed coverage on shares of ConocoPhillips in a research note on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price for the company. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Finally, Truist Financial lowered their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Six 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 data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus target price 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.