Fox Run Management L.L.C. Takes Position in ConocoPhillips $COP

Fox Run Management L.L.C. bought a new stake in shares of ConocoPhillips (NYSE:COP) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,785 shares of the energy producer’s stock, valued at approximately $340,000.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in shares of ConocoPhillips by 379.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after purchasing an additional 31,736,423 shares during the period. Wellington Management Group LLP increased its position in shares of ConocoPhillips by 1.4% during the first quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock valued at $3,319,746,000 after buying an additional 437,709 shares during the period. Goldman Sachs Group Inc. increased its position in shares of ConocoPhillips by 30.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after buying an additional 2,080,625 shares during the period. Ameriprise Financial Inc. raised its stake in ConocoPhillips by 15.1% in the first quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock worth $861,490,000 after buying an additional 1,073,906 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in ConocoPhillips in the first quarter worth about $658,981,000. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Royal Bank Of Canada upped their target price on ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Weiss Ratings raised ConocoPhillips from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, November 7th. UBS Group decreased their price objective on ConocoPhillips from $122.00 to $117.00 and set a “buy” rating for the company in a report on Wednesday. JPMorgan Chase & Co. dropped their target price on shares of ConocoPhillips from $115.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday, November 7th. Finally, Roth Capital reduced their target price on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 15th. Eighteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $115.33.

Insider Activity

In other news, Director William H. Mcraven purchased 5,768 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were purchased at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the acquisition, the director directly owned 5,768 shares in the company, valued at $499,970.24. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

ConocoPhillips Trading Down 1.9%

ConocoPhillips stock opened at $89.00 on Thursday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38. The company has a market capitalization of $109.97 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58. The business’s fifty day simple moving average is $91.08 and its two-hundred day simple moving average is $91.96. 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 posted its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.20. The firm had revenue of $15.03 billion during the quarter, compared to analyst estimates of $14.51 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.ConocoPhillips’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.78 EPS. As a group, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a $0.84 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, November 17th. ConocoPhillips’s payout ratio is currently 47.52%.

ConocoPhillips Company 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.