ProShare Advisors LLC Has $25.04 Million Holdings in ConocoPhillips $COP

ProShare Advisors LLC increased its holdings in shares of ConocoPhillips (NYSE:COP) by 6.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 279,064 shares of the energy producer’s stock after acquiring an additional 17,486 shares during the quarter. ProShare Advisors LLC’s holdings in ConocoPhillips were worth $25,043,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. PFG Advisors increased its holdings in shares of ConocoPhillips by 14.9% during the second quarter. PFG Advisors now owns 7,360 shares of the energy producer’s stock worth $660,000 after purchasing an additional 956 shares during the period. Pinnacle Wealth Management Advisory Group LLC grew its position in ConocoPhillips by 11.5% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,030 shares of the energy producer’s stock worth $362,000 after buying an additional 417 shares in the last quarter. Midwest Trust Co bought a new position in ConocoPhillips during the 2nd quarter worth $36,953,000. Sound View Wealth Advisors Group LLC increased its stake in ConocoPhillips by 2.8% during the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 4,407 shares of the energy producer’s stock worth $395,000 after acquiring an additional 122 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in ConocoPhillips by 4.6% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,397,339 shares of the energy producer’s stock valued at $215,137,000 after acquiring an additional 104,878 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the topic of a number of recent analyst reports. Wells Fargo & Company assumed coverage on ConocoPhillips in a research report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 price target on the stock. Melius initiated coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective on the stock. Susquehanna decreased their target price on shares of ConocoPhillips to $113.00 and set a “positive” rating on the stock in a report on Monday, October 20th. Melius Research started coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target for the company. Finally, Morgan Stanley reduced their price target on shares of ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 14th. Eighteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $114.54.

ConocoPhillips Trading Up 2.8%

Shares of ConocoPhillips stock opened at $90.66 on Wednesday. The firm’s 50 day moving average is $91.20 and its 200 day moving average is $91.98. The firm has a market capitalization of $113.23 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.41 by $0.20. The business had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.78 EPS. Equities research analysts forecast that ConocoPhillips will post 8.16 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 1st. Investors of record on Monday, November 17th will be issued a dividend of $0.84 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Monday, November 17th. This represents a $3.36 annualized dividend and a dividend yield of 3.7%. ConocoPhillips’s dividend payout ratio (DPR) is 47.52%.

Insiders Place Their Bets

In other news, Director William H. Mcraven bought 5,768 shares of the stock in a transaction on Monday, November 10th. The stock was acquired at an average price of $86.68 per share, with a total value of $499,970.24. Following the acquisition, the director directly owned 5,768 shares in the company, valued at approximately $499,970.24. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is owned by corporate insiders.

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.