Sittner & Nelson LLC Increases Stake in ConocoPhillips (NYSE:COP)

Sittner & Nelson LLC boosted its stake in shares of ConocoPhillips (NYSE:COP) by 128.8% in the 3rd quarter, Holdings Channel reports. The fund owned 3,553 shares of the energy producer’s stock after buying an additional 2,000 shares during the period. Sittner & Nelson LLC’s holdings in ConocoPhillips were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Values First Advisors Inc. purchased a new position in ConocoPhillips during the third quarter valued at approximately $26,000. Stephens Consulting LLC increased its position in shares of 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 buying an additional 104 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of ConocoPhillips in the third quarter valued at approximately $31,000. Y.D. More Investments Ltd purchased a new stake in shares of ConocoPhillips in the second quarter valued at approximately $35,000. Finally, Fairway Wealth LLC increased its position in shares of ConocoPhillips by 95.6% in the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after buying an additional 153 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the transaction, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

NYSE COP opened at $112.40 on Friday. The stock has a market cap of $129.36 billion, a PE ratio of 13.37, a P/E/G ratio of 0.89 and a beta of 1.21. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The stock has a fifty day simple moving average of $107.81 and a 200-day simple moving average of $112.53.

ConocoPhillips (NYSE:COP) last released 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 analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.16 EPS. Equities analysts anticipate that ConocoPhillips will post 7.79 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.78%. ConocoPhillips’s dividend payout ratio is currently 37.10%.

Analyst Ratings Changes

COP has been the subject of a number of recent analyst reports. Wolfe Research initiated coverage on ConocoPhillips in a research report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price objective for the company. UBS Group cut their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Scotiabank cut their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. BMO Capital Markets lifted their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $137.47.

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.