Cetera Advisor Networks LLC reduced its position in ConocoPhillips (NYSE:COP) by 3.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,645 shares of the energy producer’s stock after selling 1,289 shares during the quarter. Cetera Advisor Networks LLC’s holdings in ConocoPhillips were worth $2,198,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of COP. Rothschild & Co Wealth Management UK Ltd bought a new stake in shares of ConocoPhillips in the 2nd quarter valued at $27,000. Valley National Advisers Inc. boosted its stake in shares of ConocoPhillips by 64.9% in the 2nd quarter. Valley National Advisers Inc. now owns 503 shares of the energy producer’s stock valued at $31,000 after purchasing an additional 198 shares during the last quarter. Towerpoint Wealth LLC bought a new position in ConocoPhillips during the second quarter worth $32,000. Manchester Financial Inc. bought a new position in ConocoPhillips during the second quarter worth $34,000. Finally, AllSquare Wealth Management LLC boosted its stake in ConocoPhillips by 1,018.0% during the second quarter. AllSquare Wealth Management LLC now owns 559 shares of the energy producer’s stock worth $34,000 after acquiring an additional 509 shares in the last quarter. 72.32% of the stock is currently owned by institutional investors.
COP opened at $57.25 on Friday. The company has a current ratio of 2.56, a quick ratio of 2.40 and a debt-to-equity ratio of 0.42. The company’s fifty day moving average price is $56.32 and its two-hundred day moving average price is $57.89. ConocoPhillips has a 1-year low of $50.13 and a 1-year high of $71.01. The company has a market cap of $63.89 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.69 and a beta of 1.05.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Tuesday, October 29th. The energy producer reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.04. ConocoPhillips had a net margin of 21.44% and a return on equity of 13.54%. The firm had revenue of $10.09 billion for the quarter, compared to the consensus estimate of $7.06 billion. During the same quarter in the prior year, the company posted $1.36 earnings per share. As a group, equities analysts forecast that ConocoPhillips will post 3.62 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, October 17th will be issued a dividend of $0.42 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, October 16th. This represents a $1.68 annualized dividend and a yield of 2.93%. ConocoPhillips’s dividend payout ratio is presently 37.09%.
Several research analysts recently issued reports on the stock. UBS Group raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and increased their target price for the stock from $70.00 to $75.00 in a research note on Monday, September 16th. Goldman Sachs Group set a $67.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Friday, October 11th. Deutsche Bank reissued a “buy” rating and set a $68.00 target price on shares of ConocoPhillips in a research note on Tuesday, November 5th. HSBC reissued a “neutral” rating and set a $59.00 target price on shares of ConocoPhillips in a research note on Tuesday, November 5th. Finally, Warburg Research reissued a “neutral” rating and set a $61.00 target price on shares of ConocoPhillips in a research note on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $69.27.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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