Douglas Lane & Associates LLC increased its holdings in shares of ConocoPhillips (NYSE:COP – Free Report) by 28,233.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 833,857 shares of the energy producer’s stock after acquiring an additional 830,914 shares during the period. ConocoPhillips comprises approximately 1.3% of Douglas Lane & Associates LLC’s holdings, making the stock its 17th largest holding. Douglas Lane & Associates LLC owned approximately 0.07% of ConocoPhillips worth $104,357,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. B. Metzler seel. Sohn & Co. AG acquired a new position in ConocoPhillips during the 2nd quarter worth approximately $6,896,000. Cetera Trust Company N.A bought a new position in ConocoPhillips in the second quarter worth approximately $870,000. Qsemble Capital Management LP bought a new stake in ConocoPhillips during the second quarter worth $3,645,000. Nicholas Investment Partners LP bought a new position in shares of ConocoPhillips in the second quarter valued at approximately $6,498,000. Finally, Osmosis Investment Management UK Ltd bought a new stake in ConocoPhillips in the second quarter worth about $1,475,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.
ConocoPhillips Stock Performance
Shares of ConocoPhillips stock traded up $0.29 on Friday, reaching $134.48. 1,675,575 shares of the stock were exchanged, compared to its average volume of 8,101,124. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $141.62. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $161.56 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 1.35 and a beta of 0.24. The business has a 50 day moving average price of $129.39 and a two-hundred day moving average price of $121.96.
ConocoPhillips Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were paid a $0.84 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.5%. ConocoPhillips’s payout ratio is presently 44.44%.
Analyst Ratings Changes
Several equities analysts recently commented on COP shares. Royal Bank Of Canada set a $130.00 target price on ConocoPhillips in a research report on Monday, June 22nd. Zacks Research upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Jefferies Financial Group boosted their price target on ConocoPhillips from $159.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday. UBS Group increased their price target on ConocoPhillips from $153.00 to $169.00 and gave the company a “buy” rating in a report on Monday, September 14th. Finally, Wells Fargo & Company increased their price objective on shares of ConocoPhillips from $183.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.29.
Insider Buying and Selling at ConocoPhillips
In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the transaction, the senior vice president owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This trade represents a 49.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.09% of the company’s stock.
ConocoPhillips Company Profile
ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.
The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.
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