Prospera Private Wealth LLC Has $597,000 Position in ConocoPhillips (NYSE:COP)

Prospera Private Wealth LLC increased its holdings in shares of ConocoPhillips (NYSE:COP) by 221.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,668 shares of the energy producer’s stock after acquiring an additional 3,907 shares during the period. Prospera Private Wealth LLC’s holdings in ConocoPhillips were worth $597,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. EP Wealth Advisors LLC boosted its position in shares of ConocoPhillips by 19.1% during the 1st quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock valued at $3,640,000 after acquiring an additional 4,578 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in ConocoPhillips in the second quarter valued at about $30,021,000. Alpha DNA Investment Management LLC boosted its position in ConocoPhillips by 83.8% in the second quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock valued at $1,879,000 after buying an additional 7,490 shares in the last quarter. Prospera Financial Services Inc boosted its position in ConocoPhillips by 23.6% in the third quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after buying an additional 13,595 shares in the last quarter. Finally, TCW Group Inc. boosted its position in ConocoPhillips by 37.8% in the second quarter. TCW Group Inc. now owns 30,026 shares of the energy producer’s stock valued at $3,434,000 after buying an additional 8,231 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of COP opened at $113.43 on Thursday. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The firm has a fifty day simple moving average of $108.57 and a 200 day simple moving average of $111.48. The stock has a market capitalization of $130.55 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 0.92 and a beta of 1.21. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter in the prior year, the company posted $2.16 earnings per share. The firm’s revenue was down 8.5% on a year-over-year basis. Research analysts forecast that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be given a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio is 37.10%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Truist Financial reduced their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Susquehanna boosted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. UBS Group dropped their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Finally, Barclays boosted their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.63.

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.