Hoese & Co LLP Boosts Position in ConocoPhillips (NYSE:COP)

Hoese & Co LLP lifted its position in shares of ConocoPhillips (NYSE:COP) by 400.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 500 shares of the energy producer’s stock after buying an additional 400 shares during the quarter. Hoese & Co LLP’s holdings in ConocoPhillips were worth $53,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in COP. Cooksen Wealth LLC acquired a new stake in ConocoPhillips during the 4th quarter valued at $27,000. Richardson Capital Management LLC acquired a new stake in shares of ConocoPhillips during the first quarter valued at $31,000. Ruedi Wealth Management Inc. increased its position in ConocoPhillips by 150.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Stephens Consulting LLC raised its stake in ConocoPhillips by 69.3% in the 2nd 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. Finally, Valued Wealth Advisors LLC raised its stake in ConocoPhillips by 45.8% in the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after purchasing an additional 82 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Mizuho lowered their price target on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a report on Monday, September 16th. UBS Group lowered their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. Barclays lowered their price objective on ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Finally, StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $138.00.

ConocoPhillips Stock Performance

NYSE:COP opened at $111.86 on Friday. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The firm has a market capitalization of $129.90 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 0.88 and a beta of 1.21. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The firm’s fifty day simple moving average is $108.96 and its 200 day simple moving average is $115.73.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.84 earnings per share. As a group, equities research analysts expect that ConocoPhillips will post 8.02 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.07%. ConocoPhillips’s dividend payout ratio is currently 25.86%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the transaction, the director now owns 455,909 shares in the company, valued at $49,288,321.99. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.34% of the company’s stock.

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.