Means Investment CO. Inc. Has $795,000 Stock Position in ConocoPhillips (NYSE:COP)

Means Investment CO. Inc. grew its position in ConocoPhillips (NYSE:COP) by 2.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,554 shares of the energy producer’s stock after buying an additional 180 shares during the period. Means Investment CO. Inc.’s holdings in ConocoPhillips were worth $795,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in COP. Price T Rowe Associates Inc. MD grew its holdings in shares of ConocoPhillips by 35.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after buying an additional 8,479,963 shares during the period. Capital International Investors boosted its stake in ConocoPhillips by 9.6% in the 1st 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 boosted its stake in ConocoPhillips by 46.0% in the 1st quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock worth $409,833,000 after purchasing an additional 1,015,158 shares during the period. TD Asset Management Inc boosted its stake in ConocoPhillips by 34.7% in the 1st quarter. TD Asset Management Inc now owns 2,762,431 shares of the energy producer’s stock worth $351,602,000 after purchasing an additional 712,062 shares during the period. Finally, Natixis boosted its stake in ConocoPhillips by 239.1% in the 1st quarter. Natixis now owns 785,797 shares of the energy producer’s stock worth $100,016,000 after purchasing an additional 554,078 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the subject of a number of research analyst reports. Sanford C. Bernstein reduced their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $126.00 target price (down from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a research note on Friday. Barclays reduced their target price on shares of ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Finally, Susquehanna cut their price target on shares of ConocoPhillips from $147.00 to $144.00 and set a “positive” rating on the stock in a research report on Friday. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $136.94.

ConocoPhillips Stock Down 0.5 %

Shares of COP stock opened at $105.67 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The firm’s 50-day moving average is $109.01 and its 200-day moving average is $114.78. The stock has a market cap of $122.71 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 0.87 and a beta of 1.21. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The company had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. ConocoPhillips’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.84 EPS. Sell-side analysts predict that ConocoPhillips will post 7.99 EPS for the current year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a $0.58 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.20%. ConocoPhillips’s dividend payout ratio is currently 25.86%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips 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 value of $6,000,105.00. Following the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.

ConocoPhillips 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.