Pacer Advisors Inc. Has $447.11 Million Stake in ConocoPhillips $COP

Pacer Advisors Inc. reduced its position in ConocoPhillips (NYSE:COP) by 10.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,726,772 shares of the energy producer’s stock after selling 568,335 shares during the quarter. ConocoPhillips makes up about 1.1% of Pacer Advisors Inc.’s portfolio, making the stock its 11th largest position. Pacer Advisors Inc.’s holdings in ConocoPhillips were worth $447,105,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Primecap Management Co. CA boosted its position in ConocoPhillips by 66.0% during the second quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock valued at $707,461,000 after acquiring an additional 3,135,315 shares during the last quarter. AQR Capital Management LLC raised its position in shares of ConocoPhillips by 190.5% in the 1st quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock worth $484,539,000 after acquiring an additional 3,058,505 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of ConocoPhillips by 31.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer’s stock valued at $966,267,000 after purchasing an additional 2,575,803 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of ConocoPhillips by 145.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,933,286 shares of the energy producer’s stock valued at $263,233,000 after purchasing an additional 1,740,009 shares in the last quarter. Finally, Valeo Financial Advisors LLC grew its stake in ConocoPhillips by 6,156.1% during the second quarter. Valeo Financial Advisors LLC now owns 1,508,169 shares of the energy producer’s stock worth $135,343,000 after purchasing an additional 1,484,062 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

COP opened at $91.85 on Friday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $106.20. The company has a market cap of $113.50 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 2.08 and a beta of 0.32. The company’s fifty day moving average price is $89.95 and its two-hundred day moving average price is $92.49. The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.41 by $0.20. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The company had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. During the same period in the previous year, the firm posted $1.78 earnings per share. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $3.36 dividend on an annualized basis and a yield of 3.7%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s dividend payout ratio is presently 47.52%.

Insider Activity at ConocoPhillips

In related news, Director William H. Mcraven purchased 5,768 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average cost of $86.68 per share, with a total value of $499,970.24. Following the transaction, the director owned 5,768 shares of the company’s stock, valued at $499,970.24. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Michael Lance sold 500,708 shares of ConocoPhillips stock in a transaction on Friday, December 19th. The stock was sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the transaction, the chief executive officer directly owned 325,972 shares in the company, valued at $30,152,410. This represents a 60.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the topic of several recent analyst reports. Mizuho boosted their price target on ConocoPhillips from $120.00 to $121.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Susquehanna lowered their price objective on shares of ConocoPhillips to $113.00 and set a “positive” rating for the company in a research note on Monday, October 20th. Wolfe Research reissued an “outperform” rating and set a $131.00 target price on shares of ConocoPhillips in a research note on Thursday, November 6th. Capital One Financial raised their price target on shares of ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Finally, Morgan Stanley dropped their price objective on shares of ConocoPhillips from $122.00 to $117.00 and set an “overweight” rating on the stock in a report on Thursday, November 20th. Nineteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $114.08.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.