ConocoPhillips $COP Shares Purchased by Great Lakes Advisors LLC

Great Lakes Advisors LLC grew its position in shares of ConocoPhillips (NYSE:COP) by 5.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,047,732 shares of the energy producer’s stock after purchasing an additional 55,901 shares during the period. Great Lakes Advisors LLC owned approximately 0.08% of ConocoPhillips worth $99,105,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of ConocoPhillips by 0.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 40,382,724 shares of the energy producer’s stock valued at $3,623,946,000 after buying an additional 287,970 shares during the period. Fisher Asset Management LLC boosted its holdings in ConocoPhillips by 1.6% during the 2nd quarter. Fisher Asset Management LLC now owns 14,393,875 shares of the energy producer’s stock valued at $1,291,706,000 after acquiring an additional 224,201 shares during the period. Ameriprise Financial Inc. grew its position in 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 acquiring an additional 2,575,803 shares in the last quarter. Primecap Management Co. CA increased its stake 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 worth $707,461,000 after purchasing an additional 3,135,315 shares during the period. Finally, Boston Partners lifted its position in shares of ConocoPhillips by 4.0% during the second quarter. Boston Partners now owns 6,424,232 shares of the energy producer’s stock worth $577,471,000 after purchasing an additional 244,810 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on COP shares. Bank of America restated an “underperform” rating and issued a $102.00 price objective on shares of ConocoPhillips in a report on Friday, January 16th. Morgan Stanley decreased their price target on shares of ConocoPhillips from $117.00 to $108.00 and set an “overweight” rating for the company in a research report on Friday, January 23rd. Capital One Financial boosted their price target on shares of ConocoPhillips from $111.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 20th. BMO Capital Markets reduced their price objective on ConocoPhillips from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 15th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $98.00 target price on shares of ConocoPhillips in a report on Tuesday, January 20th. Sixteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.96.

Insider Buying and Selling

In related news, Director William H. Mcraven purchased 5,768 shares of the company’s stock in a transaction on Monday, November 10th. The shares were bought at an average cost of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the purchase, the director directly owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Michael Lance sold 500,708 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 325,972 shares in the company, valued at approximately $30,152,410. The trade was a 60.57% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.24% of the company’s stock.

ConocoPhillips Trading Up 1.6%

Shares of NYSE:COP opened at $101.47 on Thursday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $106.20. The company’s 50 day moving average is $94.06 and its two-hundred day moving average is $93.11. The company has a market cap of $125.39 billion, a PE ratio of 14.35, a P/E/G ratio of 3.16 and a beta of 0.32. 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 issued its earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. The firm had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.78 earnings per share. Equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were paid a dividend of $0.84 per share. The ex-dividend date was Monday, November 17th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a yield of 3.3%. ConocoPhillips’s dividend payout ratio (DPR) is presently 47.52%.

About ConocoPhillips

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.