Applied Finance Capital Management LLC Raises Holdings in ConocoPhillips (NYSE:COP)

Applied Finance Capital Management LLC boosted its stake in shares of ConocoPhillips (NYSE:COP) by 0.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 224,895 shares of the energy producer’s stock after acquiring an additional 317 shares during the quarter. Applied Finance Capital Management LLC’s holdings in ConocoPhillips were worth $23,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of COP. Values First Advisors Inc. purchased a new stake in ConocoPhillips in the 3rd quarter worth approximately $26,000. Stephens Consulting LLC lifted 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 during the period. Reston Wealth Management LLC purchased a new stake in ConocoPhillips in the 3rd quarter worth approximately $31,000. Y.D. More Investments Ltd purchased a new stake in ConocoPhillips in the 2nd quarter worth approximately $35,000. Finally, Fairway Wealth LLC lifted its holdings in ConocoPhillips by 95.6% in the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after buying an additional 153 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

NYSE COP opened at $111.63 on Friday. The business’s fifty day moving average is $107.73 and its 200 day moving average is $112.40. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The company has a market capitalization of $128.48 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 0.93 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.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data 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 return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the previous year, the business earned $2.16 earnings per share. The business’s revenue was down 8.5% on a year-over-year basis. Sell-side analysts predict that ConocoPhillips will post 7.8 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.79%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s payout ratio is presently 27.59%.

Insider Activity

In other news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale 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.

Analyst Ratings Changes

Several equities research analysts have weighed in on COP shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a report on Friday, September 13th. Sanford C. Bernstein dropped their price objective on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Susquehanna increased their price objective on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $126.00 price objective (down previously from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Finally, Wolfe Research assumed coverage on ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price for the company. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.