ConocoPhillips (NYSE:COP) Shares Acquired by Smithfield Trust Co

Smithfield Trust Co increased its stake in shares of ConocoPhillips (NYSE:COP) by 3.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,132 shares of the energy producer’s stock after buying an additional 100 shares during the quarter. Smithfield Trust Co’s holdings in ConocoPhillips were worth $332,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Values First Advisors Inc. acquired a new stake in shares of ConocoPhillips in the third quarter worth $26,000. Stephens Consulting LLC grew its position in ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares during the period. Reston Wealth Management LLC purchased a new position in shares of ConocoPhillips during the 3rd quarter valued at about $31,000. Y.D. More Investments Ltd acquired a new position in shares of ConocoPhillips in the 2nd quarter valued at about $35,000. Finally, Fairway Wealth LLC boosted its stake in shares of ConocoPhillips by 95.6% in the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after buying an additional 153 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. UBS Group reduced their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. BMO Capital Markets lifted their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $126.00 price objective (down previously from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $137.63.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $111.71 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The company has a fifty day simple moving average of $108.74 and a 200-day simple moving average of $111.48. The stock has a market cap of $128.57 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 0.92 and a beta of 1.21. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the previous year, the business earned $2.16 EPS. ConocoPhillips’s revenue for the quarter was down 8.5% on a year-over-year basis. Equities analysts expect that ConocoPhillips will post 7.8 EPS 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 paid a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio is currently 37.10%.

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.