Parthenon LLC Has $294,000 Stake in ConocoPhillips (NYSE:COP)

Parthenon LLC increased its position in ConocoPhillips (NYSE:COP) by 47.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,796 shares of the energy producer’s stock after buying an additional 900 shares during the period. Parthenon LLC’s holdings in ConocoPhillips were worth $294,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in shares of 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 worth $4,097,473,000 after purchasing an additional 8,479,963 shares during the last quarter. Capital International Investors raised its holdings in ConocoPhillips by 9.6% during the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after buying an additional 1,856,085 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of ConocoPhillips by 4.6% during 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 in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of 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 acquiring an additional 1,101,685 shares during the last quarter. Finally, Boston Partners raised its stake in shares of ConocoPhillips by 10.3% in the 1st quarter. Boston Partners now owns 4,451,796 shares of the energy producer’s stock valued at $567,111,000 after acquiring an additional 415,878 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the topic of several analyst reports. Truist Financial lowered their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Sanford C. Bernstein cut their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. 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, Barclays boosted their price objective on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $137.47.

ConocoPhillips Price Performance

Shares of NYSE:COP traded down $0.59 during midday trading on Wednesday, reaching $110.05. 817,094 shares of the company’s stock were exchanged, compared to its average volume of 5,873,981. The firm has a market capitalization of $126.66 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21. The company’s 50 day simple moving average is $107.71 and its two-hundred day simple moving average is $111.90. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30.

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 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 company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the previous year, the business earned $2.16 earnings per share. The company’s quarterly revenue was down 8.5% on a year-over-year basis. Equities research analysts expect that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 yield of 2.84%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio is 37.10%.

ConocoPhillips Company 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.