PDS Planning Inc Buys 387 Shares of ConocoPhillips (NYSE:COP)

PDS Planning Inc grew its stake in ConocoPhillips (NYSE:COP) by 4.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,612 shares of the energy producer’s stock after purchasing an additional 387 shares during the quarter. PDS Planning Inc’s holdings in ConocoPhillips were worth $1,012,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Ruedi Wealth Management Inc. grew its position in shares of ConocoPhillips by 150.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Values First Advisors Inc. bought a new stake in ConocoPhillips in the third quarter valued at approximately $26,000. Stephens Consulting LLC raised its holdings in ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares during the last quarter. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at $31,000. Finally, Y.D. More Investments Ltd acquired a new stake in shares of ConocoPhillips during the second quarter worth $35,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of recent analyst reports. Susquehanna boosted their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday. BMO Capital Markets boosted their price objective on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $126.00 target price (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Mizuho raised their price objective on ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Sanford C. Bernstein lowered their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Six investment 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $137.47.

ConocoPhillips Stock Performance

Shares of NYSE COP traded up $2.07 during midday trading on Monday, hitting $109.91. The company’s stock had a trading volume of 693,554 shares, compared to its average volume of 5,883,669. The stock has a fifty day moving average price of $107.94 and a 200 day moving average price of $112.80. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The company has a current ratio of 1.30, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $127.63 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 0.90 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.16 earnings per share. On average, research analysts forecast that ConocoPhillips will post 7.76 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. Investors of record on Monday, November 11th will be issued 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 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date is Friday, November 8th. ConocoPhillips’s dividend payout ratio is currently 37.10%.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction on 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 directly owns 455,909 shares in the company, valued at $49,288,321.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.34% of the stock is currently owned by company 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.