OVERSEA CHINESE BANKING Corp Ltd Buys 30,157 Shares of ConocoPhillips (NYSE:COP)

OVERSEA CHINESE BANKING Corp Ltd raised its stake in ConocoPhillips (NYSE:COP) by 63.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,597 shares of the energy producer’s stock after purchasing an additional 30,157 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in ConocoPhillips were worth $8,169,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its holdings in shares of ConocoPhillips by 35.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after buying an additional 8,479,963 shares during the last quarter. Capital International Investors grew its holdings in shares of ConocoPhillips by 9.6% during the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after buying an additional 1,856,085 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of ConocoPhillips by 10,634.2% during the third quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer’s stock valued at $126,933,000 after buying an additional 1,194,434 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of ConocoPhillips by 19.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,811,289 shares of the energy producer’s stock valued at $717,093,000 after buying an additional 1,101,685 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of ConocoPhillips by 46.0% during the first quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock valued at $409,833,000 after buying an additional 1,015,158 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

COP has been the topic of several analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Sanford C. Bernstein cut their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Mizuho boosted their price target on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Barclays boosted their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $137.47.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $112.08 on Tuesday. The firm’s 50 day simple moving average is $107.69 and its 200 day simple moving average is $112.04. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $128.99 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS 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 analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.16 EPS. As a group, analysts expect that ConocoPhillips will post 7.8 earnings per share for the current fiscal 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 paid a $0.78 dividend. 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 dividend yield of 2.78%. ConocoPhillips’s dividend 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.