ConocoPhillips (NYSE:COP) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P decreased its position in ConocoPhillips (NYSE:COP) by 84.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,836 shares of the energy producer’s stock after selling 41,128 shares during the quarter. Martingale Asset Management L P’s holdings in ConocoPhillips were worth $825,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of COP. Fisher Asset Management LLC boosted its position in shares of ConocoPhillips by 59.7% during the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after purchasing an additional 4,656,040 shares in the last quarter. Legal & General Group Plc grew its position 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 worth $1,132,430,000 after buying an additional 438,241 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of ConocoPhillips by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,096,450 shares of the energy producer’s stock valued at $747,114,000 after buying an additional 153,944 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position 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 valued at $717,093,000 after acquiring an additional 1,101,685 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of ConocoPhillips by 17.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,013,513 shares of the energy producer’s stock worth $633,103,000 after acquiring an additional 896,651 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on COP. JPMorgan Chase & Co. restated a “neutral” rating and set a $126.00 price objective (down previously from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. BMO Capital Markets boosted their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Barclays raised their target price on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Finally, Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $137.63.

ConocoPhillips Price Performance

NYSE COP opened at $106.14 on Tuesday. The company has a 50 day moving average price of $108.77 and a two-hundred day moving average price of $110.72. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The stock has a market capitalization of $122.16 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 0.89 and a beta of 1.21. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the prior year, the business posted $2.16 earnings per share. The business’s quarterly revenue was down 8.5% on a year-over-year basis. As a group, equities analysts predict that ConocoPhillips will post 7.76 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.94%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

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.