Drive Wealth Management LLC Purchases 475 Shares of ConocoPhillips (NYSE:COP)

Drive Wealth Management LLC grew its position in shares of ConocoPhillips (NYSE:COP) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,455 shares of the energy producer’s stock after acquiring an additional 475 shares during the quarter. Drive Wealth Management LLC’s holdings in ConocoPhillips were worth $1,627,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in ConocoPhillips by 35.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after purchasing an additional 8,479,963 shares in the last quarter. Capital International Investors increased its position in shares of ConocoPhillips by 9.6% during the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after acquiring an additional 1,856,085 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of ConocoPhillips by 4.6% in the 2nd quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock worth $1,132,430,000 after acquiring an additional 438,241 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in ConocoPhillips by 19.3% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,811,289 shares of the energy producer’s stock valued at $717,093,000 after purchasing an additional 1,101,685 shares during the last quarter. Finally, Boston Partners boosted its stake in ConocoPhillips by 10.3% during the 1st quarter. Boston Partners now owns 4,451,796 shares of the energy producer’s stock valued at $567,111,000 after purchasing an additional 415,878 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $112.32 on Monday. The firm has a market capitalization of $129.27 billion, a P/E ratio of 13.36, a PEG ratio of 0.92 and a beta of 1.21. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The business has a fifty day moving average price of $108.01 and a 200-day moving average price of $111.59.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same quarter in the previous year, the firm earned $2.16 EPS. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. As a group, equities research analysts forecast that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Scotiabank cut their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Susquehanna upped their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. BMO Capital Markets raised their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. UBS Group cut their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $126.00 price objective (down previously from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $137.63.

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.