ConocoPhillips (NYSE:COP) Position Boosted by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. increased its holdings in ConocoPhillips (NYSE:COP) by 10.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,036 shares of the energy producer’s stock after buying an additional 3,190 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in ConocoPhillips were worth $3,478,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in COP. Values First Advisors Inc. bought a new position in ConocoPhillips in the 3rd quarter worth approximately $26,000. Stephens Consulting LLC grew its holdings in ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after buying an additional 104 shares in the last quarter. Ruedi Wealth Management Inc. grew its holdings in ConocoPhillips by 150.0% in the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after buying an additional 150 shares in the last quarter. Y.D. More Investments Ltd bought a new position in ConocoPhillips in the 2nd quarter worth approximately $35,000. Finally, Fairway Wealth LLC boosted its stake in ConocoPhillips by 95.6% during the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after purchasing an additional 153 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Up 0.7 %

Shares of COP traded up $0.75 during mid-day trading on Wednesday, reaching $103.07. The company’s stock had a trading volume of 1,502,488 shares, compared to its average volume of 5,848,667. The business has a fifty day moving average of $108.15 and a 200 day moving average of $113.27. The company has a market cap of $119.69 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 0.85 and a beta of 1.21. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same period in the prior year, the business posted $1.84 earnings per share. ConocoPhillips’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, analysts forecast that ConocoPhillips will post 7.85 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.86%.

Analyst Upgrades and Downgrades

COP has been the subject of a number of research reports. Sanford C. Bernstein decreased their price target on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Scotiabank decreased their price target 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. Wolfe Research began coverage on ConocoPhillips in a research note on Thursday, July 18th. They set an “outperform” rating and a $145.00 price target for the company. Finally, Mizuho cut their price objective on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $136.94.

Insider Transactions at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the company’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 directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by company insiders.

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.