ConocoPhillips (NYSE:COP) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its position in ConocoPhillips (NYSE:COP) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,489,514 shares of the energy producer’s stock after purchasing an additional 46,621 shares during the quarter. The Manufacturers Life Insurance Company owned 0.22% of ConocoPhillips worth $262,094,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Values First Advisors Inc. acquired a new stake in shares of ConocoPhillips during the third quarter valued at about $26,000. Stephens Consulting LLC boosted its holdings in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in ConocoPhillips during the 3rd quarter valued at approximately $31,000. Truvestments Capital LLC purchased a new stake in ConocoPhillips during the 3rd quarter worth approximately $31,000. Finally, Y.D. More Investments Ltd acquired a new position in shares of ConocoPhillips in the 2nd quarter valued at approximately $35,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 5.1 %

Shares of COP stock opened at $106.03 on Tuesday. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The stock has a market capitalization of $122.03 billion, a P/E ratio of 12.61, a P/E/G ratio of 0.91 and a beta of 1.21. The stock has a 50-day simple moving average of $108.92 and a 200 day simple moving average of $111.11. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 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 the consensus estimate of $13.97 billion. During the same quarter in the prior year, the firm earned $2.16 EPS. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. On average, sell-side analysts expect that ConocoPhillips will post 7.78 earnings per share for the current fiscal 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 given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.94%. ConocoPhillips’s payout ratio is presently 37.10%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on COP. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. UBS Group dropped their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $126.00 target price (down previously from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Truist Financial decreased their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. 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.com, the company currently 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.