ConocoPhillips $COP Shares Purchased by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. grew its position in shares of ConocoPhillips (NYSE:COP) by 181.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,314 shares of the energy producer’s stock after acquiring an additional 17,620 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in ConocoPhillips were worth $2,451,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Malaga Cove Capital LLC lifted its stake in shares of ConocoPhillips by 36.2% in the 2nd quarter. Malaga Cove Capital LLC now owns 10,052 shares of the energy producer’s stock valued at $902,000 after purchasing an additional 2,673 shares in the last quarter. Modera Wealth Management LLC raised its holdings in ConocoPhillips by 9.1% in the second quarter. Modera Wealth Management LLC now owns 11,455 shares of the energy producer’s stock valued at $1,028,000 after buying an additional 957 shares during the period. Souders Financial Advisors lifted its position in ConocoPhillips by 24.6% during the second quarter. Souders Financial Advisors now owns 3,667 shares of the energy producer’s stock valued at $329,000 after buying an additional 724 shares in the last quarter. Cetera Trust Company N.A grew its stake in ConocoPhillips by 33.5% during the second quarter. Cetera Trust Company N.A now owns 1,302 shares of the energy producer’s stock worth $117,000 after buying an additional 327 shares during the period. Finally, Washington Trust Bank increased its position in shares of ConocoPhillips by 12.4% in the second quarter. Washington Trust Bank now owns 70,537 shares of the energy producer’s stock worth $6,330,000 after acquiring an additional 7,773 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on COP shares. Royal Bank Of Canada lifted their target price on shares of ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Melius Research began coverage on ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective on the stock. Morgan Stanley decreased their target price on ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. Wells Fargo & Company began coverage on ConocoPhillips in a research note on Friday, October 17th. They issued an “equal weight” rating and a $100.00 target price for the company. Finally, BMO Capital Markets raised their target price on ConocoPhillips from $115.00 to $117.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Eighteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $114.54.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $86.82 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38. The business has a 50 day moving average price of $91.58 and a two-hundred day moving average price of $92.01. The firm has a market cap of $108.43 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. During the same period in the prior year, the company posted $1.78 EPS. ConocoPhillips’s quarterly revenue was up 14.1% on a year-over-year basis. Sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a dividend of $0.84 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date is Monday, November 17th. This represents a $3.36 dividend on an annualized basis and a yield of 3.9%. ConocoPhillips’s payout ratio is currently 47.52%.

About ConocoPhillips

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.