Ackerman Capital Advisors LLC grew its stake in ConocoPhillips (NYSE:COP) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,070 shares of the energy producer’s stock after purchasing an additional 262 shares during the quarter. Ackerman Capital Advisors LLC’s holdings in ConocoPhillips were worth $403,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Polianta Ltd grew its position in shares of ConocoPhillips by 16.8% in the third quarter. Polianta Ltd now owns 20,870 shares of the energy producer’s stock valued at $1,189,000 after purchasing an additional 3,000 shares during the period. Everence Capital Management Inc. grew its position in shares of ConocoPhillips by 12.9% in the third quarter. Everence Capital Management Inc. now owns 54,832 shares of the energy producer’s stock valued at $3,124,000 after purchasing an additional 6,280 shares during the period. Cerebellum GP LLC grew its position in shares of ConocoPhillips by 25.6% in the third quarter. Cerebellum GP LLC now owns 7,103 shares of the energy producer’s stock valued at $405,000 after purchasing an additional 1,447 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in shares of ConocoPhillips by 216.8% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 7,891 shares of the energy producer’s stock valued at $446,000 after purchasing an additional 5,400 shares during the period. Finally, Alpha Windward LLC grew its position in shares of ConocoPhillips by 4.2% in the third quarter. Alpha Windward LLC now owns 12,606 shares of the energy producer’s stock valued at $718,000 after purchasing an additional 506 shares during the period. Institutional investors and hedge funds own 71.40% of the company’s stock.

COP stock traded up $0.98 during trading on Wednesday, reaching $54.88. 437,033 shares of the stock were exchanged, compared to its average volume of 6,664,684. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.45. The business has a 50 day moving average price of $55.22 and a 200-day moving average price of $59.67. ConocoPhillips has a 1 year low of $50.13 and a 1 year high of $79.96. The firm has a market capitalization of $59.39 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 1.46 and a beta of 1.05.

ConocoPhillips (NYSE:COP) last issued its earnings results on Tuesday, July 30th. The energy producer reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.02). ConocoPhillips had a return on equity of 15.96% and a net margin of 18.33%. The firm had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $9.42 billion. During the same period last year, the firm earned $1.09 earnings per share. ConocoPhillips’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, research analysts anticipate that ConocoPhillips will post 3.85 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, October 17th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.31. This represents a $1.68 dividend on an annualized basis and a yield of 3.06%. ConocoPhillips’s payout ratio is 26.93%.

A number of equities analysts recently weighed in on COP shares. UBS Group upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $70.00 to $75.00 in a research report on Monday, September 16th. Morgan Stanley lowered their price target on shares of ConocoPhillips from $84.00 to $81.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Barclays started coverage on shares of ConocoPhillips in a research report on Monday, August 19th. They set an “overweight” rating and a $79.00 price target on the stock. Zacks Investment Research upgraded shares of ConocoPhillips from a “strong sell” rating to a “hold” rating and set a $52.00 price target on the stock in a research report on Thursday, July 11th. Finally, ValuEngine upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $74.50.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

See Also: Price to Earnings Ratio (PE) Basics

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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