Davis Selected Advisers Grows Stock Holdings in ConocoPhillips $COP

Davis Selected Advisers increased its position in ConocoPhillips (NYSE:COP) by 13.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,585,587 shares of the energy producer’s stock after buying an additional 183,519 shares during the period. Davis Selected Advisers owned about 0.13% of ConocoPhillips worth $142,291,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its position in shares of ConocoPhillips by 379.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after purchasing an additional 31,736,423 shares in the last quarter. Nuveen LLC bought a new position in ConocoPhillips in the 1st quarter worth approximately $658,981,000. AQR Capital Management LLC boosted its stake in 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 purchasing an additional 3,058,505 shares during the period. Goldman Sachs Group Inc. grew its holdings in ConocoPhillips by 30.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after buying an additional 2,080,625 shares in the last quarter. Finally, Deutsche Bank AG raised its position in shares of ConocoPhillips by 53.8% during the first quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer’s stock valued at $550,334,000 after buying an additional 1,834,118 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Up 0.3%

COP opened at $89.38 on Friday. The stock has a 50-day moving average of $90.96 and a 200 day moving average of $91.94. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38. The firm has a market cap of $110.45 billion, a P/E ratio of 12.00, a P/E/G ratio of 2.36 and a beta of 0.58.

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

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 3.8%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date is Monday, November 17th. ConocoPhillips’s dividend payout ratio (DPR) is presently 47.52%.

Insider Buying and Selling at ConocoPhillips

In other news, Director William H. Mcraven bought 5,768 shares of the stock in a transaction dated Monday, November 10th. The stock was purchased at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the acquisition, the director owned 5,768 shares of the company’s stock, valued at $499,970.24. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

COP has been the subject of a number of research reports. UBS Group dropped their target price on shares of ConocoPhillips from $122.00 to $117.00 and set a “buy” rating for the company in a research report on Wednesday. Piper Sandler dropped their price objective on shares of ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, October 13th. Capital One Financial lifted their target price on ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Evercore ISI decreased their target price on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a research report on Monday, October 6th. Finally, BMO Capital Markets raised their price target 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $115.33.

ConocoPhillips Profile

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.