92,840 Shares in ConocoPhillips (NYSE:COP) Purchased by Invenomic Capital Management LP

Invenomic Capital Management LP purchased a new stake in ConocoPhillips (NYSE:COP) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 92,840 shares of the energy producer’s stock, valued at approximately $9,774,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Kingswood Wealth Advisors LLC grew its holdings in shares of ConocoPhillips by 1.6% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 15,822 shares of the energy producer’s stock worth $1,810,000 after acquiring an additional 245 shares during the period. Park Avenue Securities LLC raised its holdings in ConocoPhillips by 10.0% during the second quarter. Park Avenue Securities LLC now owns 47,394 shares of the energy producer’s stock worth $5,421,000 after purchasing an additional 4,319 shares in the last quarter. Linden Thomas Advisory Services LLC purchased a new stake in shares of ConocoPhillips in the 2nd quarter valued at approximately $1,281,000. Greenfield Savings Bank raised its position in ConocoPhillips by 1.3% during the second quarter. Greenfield Savings Bank now owns 7,882 shares of the energy producer’s stock valued at $902,000 after acquiring an additional 103 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its stake in ConocoPhillips by 3.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 24,559 shares of the energy producer’s stock valued at $2,809,000 after purchasing an additional 805 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on COP. 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 report on Friday, October 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Barclays raised their price objective on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, BMO Capital Markets lifted their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.63.

ConocoPhillips Stock Performance

Shares of COP opened at $106.90 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The company has a 50-day simple moving average of $108.77 and a 200-day simple moving average of $110.72. The company has a market capitalization of $123.03 billion, a PE ratio of 12.62, a P/E/G ratio of 0.89 and a beta of 1.18. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same period last year, the firm earned $2.16 EPS. The firm’s revenue was down 8.5% compared to the same quarter last year. Equities research analysts predict that ConocoPhillips will post 7.76 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a dividend of $0.78 per share. The ex-dividend date was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 2.92%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

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.