Platform Technology Partners Buys 375 Shares of ConocoPhillips (NYSE:COP)

Platform Technology Partners boosted its stake in shares of ConocoPhillips (NYSE:COP) by 2.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,424 shares of the energy producer’s stock after buying an additional 375 shares during the quarter. Platform Technology Partners’ holdings in ConocoPhillips were worth $1,413,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of ConocoPhillips by 35.8% in the first 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 buying an additional 8,479,963 shares in the last quarter. Capital International Investors lifted its holdings in shares of 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 buying an additional 1,856,085 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of 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 in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of ConocoPhillips by 19.3% in the third 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 lifted its holdings in shares of ConocoPhillips by 10.3% in the first 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 in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wolfe Research assumed coverage on shares of ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target on the stock. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. Scotiabank lowered their target price on shares of 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, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $126.00 target price (down from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.47.

ConocoPhillips Stock Up 0.4 %

Shares of ConocoPhillips stock opened at $112.08 on Tuesday. The stock has a market capitalization of $128.99 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 0.91 and a beta of 1.21. The company’s 50 day moving average price is $107.69 and its 200-day moving average price is $112.04. ConocoPhillips has a 52-week low of $101.29 and a 52-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.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.16 earnings per share. Equities research analysts forecast that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

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

About ConocoPhillips

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.