ConocoPhillips $COP Position Increased by True Freedom Investing LLC

True Freedom Investing LLC grew its position in shares of ConocoPhillips (NYSE:COP) by 9.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,561 shares of the energy producer’s stock after buying an additional 7,740 shares during the period. ConocoPhillips comprises 1.7% of True Freedom Investing LLC’s portfolio, making the stock its 10th largest position. True Freedom Investing LLC’s holdings in ConocoPhillips were worth $10,958,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of ConocoPhillips by 73.2% in the 2nd quarter. State Street Corp now owns 118,591,447 shares of the energy producer’s stock valued at $12,328,767,000 after acquiring an additional 50,116,727 shares during the last quarter. BlackRock Inc. lifted its stake in ConocoPhillips by 3.0% during the second quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock worth $9,760,436,000 after purchasing an additional 2,712,703 shares during the last quarter. Wellington Management Group LLP lifted its stake in ConocoPhillips by 12.0% during the second quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer’s stock worth $1,566,901,000 after purchasing an additional 1,609,759 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in ConocoPhillips by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 11,044,489 shares of the energy producer’s stock worth $1,457,978,000 after purchasing an additional 74,261 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in ConocoPhillips by 10.8% in the first quarter. Bank of New York Mellon Corp now owns 10,181,950 shares of the energy producer’s stock worth $1,344,017,000 after purchasing an additional 995,392 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 0.0%

Shares of NYSE COP opened at $154.10 on Monday. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $154.28. The company has a market cap of $185.13 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.50 and a beta of 0.16. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The stock’s 50 day simple moving average is $136.14 and its 200 day simple moving average is $121.05.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. The firm had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The firm’s revenue was up 32.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.42 EPS. Equities research analysts expect that ConocoPhillips will post 11.41 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Monday, August 17th. ConocoPhillips’s dividend payout ratio (DPR) is presently 44.44%.

Insider Activity

In other news, SVP Andrew Lundquist sold 9,487 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the transaction, the senior vice president owned 9,593 shares of the company’s stock, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Freedom Capital upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Raymond James Financial restated an “outperform” rating and issued a $170.00 price target on shares of ConocoPhillips in a research report on Monday. Mizuho decreased their price target on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a report on Tuesday, July 7th. Jefferies Financial Group boosted their price objective on shares of ConocoPhillips from $159.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, October 6th. Finally, Zacks Research upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.08.

About ConocoPhillips

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.