Atlanta Consulting Group Advisors LLC Invests $410,000 in ConocoPhillips (NYSE:COP)

Atlanta Consulting Group Advisors LLC bought a new stake in ConocoPhillips (NYSE:COP) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,890 shares of the energy producer’s stock, valued at approximately $410,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of ConocoPhillips by 35.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock worth $4,097,473,000 after acquiring an additional 8,479,963 shares in the last quarter. Capital International Investors increased its holdings in ConocoPhillips by 9.6% in the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after purchasing an additional 1,856,085 shares in the last quarter. Legal & General Group Plc lifted its stake in ConocoPhillips by 4.6% in the second quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock valued at $1,132,430,000 after buying an additional 438,241 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in shares of ConocoPhillips by 19.3% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,811,289 shares of the energy producer’s stock worth $717,093,000 after buying an additional 1,101,685 shares in the last quarter. Finally, Boston Partners grew its position in shares of ConocoPhillips by 10.3% during the 1st quarter. Boston Partners now owns 4,451,796 shares of the energy producer’s stock worth $567,111,000 after buying an additional 415,878 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.5 %

ConocoPhillips stock opened at $112.32 on Monday. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The firm’s 50-day simple moving average is $108.01 and its 200 day simple moving average is $111.59. The stock has a market cap of $129.27 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 0.92 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last announced its 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 firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $2.16 EPS. Research analysts predict that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

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

Analyst Ratings Changes

A number of research analysts recently issued reports on COP shares. UBS Group dropped their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Susquehanna upped their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Barclays raised their target price on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Scotiabank dropped their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Finally, Mizuho raised their price objective on ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.