Good Life Advisors LLC Has $1.04 Million Position in ConocoPhillips (NYSE:COP)

Good Life Advisors LLC raised its holdings in ConocoPhillips (NYSE:COP) by 1.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,874 shares of the energy producer’s stock after acquiring an additional 162 shares during the quarter. Good Life Advisors LLC’s holdings in ConocoPhillips were worth $1,040,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in shares of ConocoPhillips by 35.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock worth $4,097,473,000 after buying an additional 8,479,963 shares during the last quarter. Capital International Investors boosted its position in ConocoPhillips by 9.6% during the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after purchasing an additional 1,856,085 shares during the period. Clearbridge Investments LLC grew its holdings in ConocoPhillips by 46.0% during the first quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock valued at $409,833,000 after purchasing an additional 1,015,158 shares during the last quarter. TD Asset Management Inc raised its position in shares of ConocoPhillips by 34.7% in the first quarter. TD Asset Management Inc now owns 2,762,431 shares of the energy producer’s stock valued at $351,602,000 after purchasing an additional 712,062 shares during the period. Finally, Natixis lifted its stake in shares of ConocoPhillips by 239.1% in the first quarter. Natixis now owns 785,797 shares of the energy producer’s stock worth $100,016,000 after buying an additional 554,078 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on COP shares. BMO Capital Markets raised their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Sanford C. Bernstein lowered their price target on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Susquehanna cut their price objective on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Barclays lowered their target price on ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Finally, Wells Fargo & Company dropped their price target on ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $137.12.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $106.17 on Friday. The firm has a market cap of $124.17 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 0.88 and a beta of 1.21. The firm’s 50-day simple moving average is $109.07 and its 200-day simple moving average is $115.06. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same period in the previous year, the business earned $1.84 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, research analysts expect that ConocoPhillips will post 8.02 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.19%. ConocoPhillips’s payout ratio is presently 26.27%.

Insider Activity

In related news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares in the company, valued at $49,288,321.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.34% 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.