ConocoPhillips (NYSE:COP) Shares Acquired by Petrus Trust Company LTA

Petrus Trust Company LTA grew its position in ConocoPhillips (NYSE:COP) by 131.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,420 shares of the energy producer’s stock after buying an additional 4,775 shares during the quarter. Petrus Trust Company LTA’s holdings in ConocoPhillips were worth $886,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Menard Financial Group LLC boosted its holdings in ConocoPhillips by 30.8% in the 3rd quarter. Menard Financial Group LLC now owns 9,976 shares of the energy producer’s stock valued at $1,050,000 after purchasing an additional 2,350 shares during the last quarter. Merewether Investment Management LP acquired a new stake in shares of ConocoPhillips during the third quarter worth about $124,915,000. Morse Asset Management Inc purchased a new position in shares of ConocoPhillips in the third quarter valued at approximately $805,000. Murchinson Ltd. acquired a new position in shares of ConocoPhillips in the third quarter valued at approximately $2,685,000. Finally, IHT Wealth Management LLC lifted its holdings in ConocoPhillips by 36.4% during the 3rd quarter. IHT Wealth Management LLC now owns 9,276 shares of the energy producer’s stock worth $985,000 after buying an additional 2,473 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Barclays upped their price objective on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Mizuho raised their price target on ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Scotiabank dropped their price objective 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, Susquehanna lifted their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $137.63.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $106.05 on Wednesday. The stock has a fifty day moving average of $108.64 and a two-hundred day moving average of $110.52. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The company has a market capitalization of $122.05 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 0.87 and a beta of 1.18. 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 posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping 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 return on equity of 19.53% and a net margin of 17.29%. The business’s revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.16 earnings per share. On average, analysts anticipate that ConocoPhillips will post 7.76 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a dividend of $0.78 per share. 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 of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio is presently 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.