Advisors Asset Management Inc. Sells 20,268 Shares of ConocoPhillips (NYSE:COP)

Advisors Asset Management Inc. lessened its position in ConocoPhillips (NYSE:COP) by 21.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,098 shares of the energy producer’s stock after selling 20,268 shares during the quarter. Advisors Asset Management Inc.’s holdings in ConocoPhillips were worth $7,801,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Howe & Rusling Inc. raised its holdings in ConocoPhillips by 4.3% in the 3rd quarter. Howe & Rusling Inc. now owns 4,389 shares of the energy producer’s stock worth $462,000 after acquiring an additional 179 shares during the period. Prospera Private Wealth LLC raised its holdings in ConocoPhillips by 221.9% in the 3rd quarter. Prospera Private Wealth LLC now owns 5,668 shares of the energy producer’s stock worth $597,000 after acquiring an additional 3,907 shares during the period. West Family Investments Inc. raised its holdings in ConocoPhillips by 8.9% in the 3rd quarter. West Family Investments Inc. now owns 3,498 shares of the energy producer’s stock worth $368,000 after acquiring an additional 285 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in ConocoPhillips in the 3rd quarter worth $10,289,000. Finally, Banque Cantonale Vaudoise grew its position in ConocoPhillips by 20.7% in the 3rd quarter. Banque Cantonale Vaudoise now owns 9,332 shares of the energy producer’s stock worth $982,000 after purchasing an additional 1,598 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on COP shares. UBS Group decreased their price target 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. Susquehanna raised their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research report on Friday, September 13th. BMO Capital Markets raised their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Barclays lifted their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Six research 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $137.63.

ConocoPhillips Trading Up 0.3 %

Shares of NYSE COP opened at $113.43 on Thursday. 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 $130.55 billion, a PE ratio of 13.49, a P/E/G ratio of 0.92 and a beta of 1.21. The company has a 50-day moving average of $108.57 and a two-hundred day moving average of $111.48. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’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 firm posted $2.16 earnings per share. As a group, equities analysts expect that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be issued a dividend of $0.78 per share. The ex-dividend date is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 2.75%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 37.10%.

ConocoPhillips 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.