Keystone Financial Services Purchases 893 Shares of ConocoPhillips (NYSE:COP)

Keystone Financial Services lifted its holdings in ConocoPhillips (NYSE:COP) by 23.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,708 shares of the energy producer’s stock after purchasing an additional 893 shares during the period. Keystone Financial Services’ holdings in ConocoPhillips were worth $496,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in COP. Bleakley Financial Group LLC grew its position in shares of ConocoPhillips by 5.3% during the 1st quarter. Bleakley Financial Group LLC now owns 33,371 shares of the energy producer’s stock valued at $4,247,000 after acquiring an additional 1,672 shares during the period. Entropy Technologies LP purchased a new stake in ConocoPhillips in the first quarter worth about $3,656,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of ConocoPhillips by 4.2% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 50,075 shares of the energy producer’s stock worth $6,374,000 after buying an additional 2,041 shares during the period. Patton Fund Management Inc. lifted its position in shares of ConocoPhillips by 60.9% during the 1st quarter. Patton Fund Management Inc. now owns 3,623 shares of the energy producer’s stock valued at $461,000 after buying an additional 1,371 shares in the last quarter. Finally, TD Asset Management Inc grew its stake in shares of ConocoPhillips by 34.7% during the 1st quarter. TD Asset Management Inc now owns 2,762,431 shares of the energy producer’s stock valued at $351,602,000 after acquiring an additional 712,062 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on COP shares. Wolfe Research initiated coverage on shares of ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price target on the stock. Scotiabank cut 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. Barclays boosted their price objective on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $126.00 target price (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Finally, BMO Capital Markets boosted their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.47.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $112.08 on Tuesday. The firm has a fifty day simple moving average of $107.73 and a two-hundred day simple moving average of $112.16. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $128.99 billion, a P/E ratio of 13.33, a PEG ratio of 0.91 and a beta of 1.21. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The business 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 quarterly 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 earnings per share. On average, analysts expect that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

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

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.