The Manufacturers Life Insurance Company Has $262.09 Million Holdings in ConocoPhillips (NYSE:COP)

The Manufacturers Life Insurance Company grew its position in shares of ConocoPhillips (NYSE:COP) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,489,514 shares of the energy producer’s stock after buying an additional 46,621 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in ConocoPhillips were worth $262,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in COP. EntryPoint Capital LLC acquired a new position in shares of ConocoPhillips during the 1st quarter worth $46,000. Waverly Advisors LLC lifted its position in shares of ConocoPhillips by 33.1% in the first quarter. Waverly Advisors LLC now owns 8,131 shares of the energy producer’s stock worth $1,035,000 after buying an additional 2,023 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of ConocoPhillips by 5.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 40,693 shares of the energy producer’s stock worth $4,899,000 after acquiring an additional 2,201 shares in the last quarter. Redwood Investment Management LLC boosted its stake in shares of ConocoPhillips by 1.0% during the 1st quarter. Redwood Investment Management LLC now owns 13,996 shares of the energy producer’s stock worth $1,781,000 after acquiring an additional 140 shares in the last quarter. Finally, Creekmur Asset Management LLC increased its holdings in shares of ConocoPhillips by 16.2% during the 1st quarter. Creekmur Asset Management LLC now owns 780 shares of the energy producer’s stock valued at $99,000 after acquiring an additional 109 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

NYSE COP opened at $106.03 on Tuesday. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The stock has a market cap of $122.03 billion, a P/E ratio of 12.61, a PEG ratio of 0.91 and a beta of 1.21. The company’s 50-day simple moving average is $108.92 and its 200 day simple moving average is $111.11.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.16 EPS. As a group, research analysts forecast that ConocoPhillips will post 7.78 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 2nd. Shareholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.94%. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on COP shares. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. Scotiabank cut their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. BMO Capital Markets raised their price target on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $126.00 price objective (down 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 assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.