ConocoPhillips (NYSE:COP) Shares Acquired by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 17.5% in the third quarter, HoldingsChannel.com reports. The firm owned 13,880 shares of the energy producer’s stock after acquiring an additional 2,065 shares during the quarter. Icon Wealth Advisors LLC’s holdings in ConocoPhillips were worth $1,461,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Manning & Napier Advisors LLC acquired a new stake in shares of ConocoPhillips during the second quarter valued at about $30,021,000. Alpha DNA Investment Management LLC boosted its position in shares of ConocoPhillips by 83.8% during the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock worth $1,879,000 after purchasing an additional 7,490 shares during the period. Prospera Financial Services Inc increased its holdings in ConocoPhillips by 23.6% in the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after purchasing an additional 13,595 shares during the last quarter. Pacer Advisors Inc. increased its holdings in ConocoPhillips by 5,422.3% in the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock valued at $482,996,000 after purchasing an additional 4,504,653 shares during the last quarter. Finally, TCW Group Inc. raised its position in ConocoPhillips by 37.8% in the second quarter. TCW Group Inc. now owns 30,026 shares of the energy producer’s stock valued at $3,434,000 after purchasing an additional 8,231 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on COP shares. Scotiabank dropped their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Barclays increased their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Truist Financial dropped their price objective 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. Finally, Susquehanna increased their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $137.63.

ConocoPhillips Trading Down 0.1 %

NYSE:COP opened at $111.75 on Friday. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The stock has a market cap of $128.61 billion, a P/E ratio of 13.29, a P/E/G 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. The stock has a 50-day simple moving average of $108.91 and a 200-day simple moving average of $111.40.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter in the prior year, the business posted $2.16 EPS. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. As a group, analysts anticipate that ConocoPhillips will post 7.8 earnings per share for the current fiscal 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 dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.79%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 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.