Norris Perne & French LLP MI acquired a new stake in shares of ConocoPhillips (NYSE:COP) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 4,766 shares of the energy producer’s stock, valued at approximately $239,000.
A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of ConocoPhillips by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 90,547,596 shares of the energy producer’s stock worth $3,980,473,000 after buying an additional 1,694,618 shares during the period. BlackRock Inc. grew its position in shares of ConocoPhillips by 7.8% in the 2nd quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock worth $3,772,723,000 after buying an additional 6,197,896 shares during the period. FMR LLC grew its position in shares of ConocoPhillips by 6.9% in the 1st quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock worth $3,066,900,000 after buying an additional 3,982,002 shares during the period. Bank of New York Mellon Corp grew its position in shares of ConocoPhillips by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 15,774,835 shares of the energy producer’s stock worth $693,462,000 after buying an additional 397,339 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of ConocoPhillips by 255.3% in the 1st quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock worth $638,530,000 after buying an additional 9,200,014 shares during the period. 69.62% of the stock is currently owned by institutional investors and hedge funds.
ConocoPhillips (COP) opened at $54.25 on Thursday. The stock has a market cap of $62,979.78, a PE ratio of 2,634.00, a P/E/G ratio of 12.70 and a beta of 1.26. ConocoPhillips has a one year low of $42.26 and a one year high of $54.51. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Monday, October 16th were paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 1.95%. The ex-dividend date was Friday, October 13th. ConocoPhillips’s dividend payout ratio is currently -57.30%.
COP has been the topic of a number of recent research reports. Scotiabank reaffirmed a “buy” rating and issued a $52.00 target price on shares of ConocoPhillips in a research report on Friday, September 8th. J P Morgan Chase & Co reaffirmed an “overweight” rating on shares of ConocoPhillips in a research report on Saturday, September 16th. Royal Bank of Canada upped their target price on shares of ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Jefferies Group set a $54.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Finally, Barclays upped their price target on shares of ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $55.25.
In related news, Director Charles E. Bunch bought 2,000 shares of the stock in a transaction on Monday, December 11th. The shares were acquired at an average price of $52.06 per share, for a total transaction of $104,120.00. Following the purchase, the director now owns 3,429 shares of the company’s stock, valued at $178,513.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.82% of the stock is currently owned by corporate insiders.
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ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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