True Wealth Design LLC Boosts Holdings in ConocoPhillips (NYSE:COP)

True Wealth Design LLC increased its holdings in ConocoPhillips (NYSE:COP) by 89.3% in the third quarter, Holdings Channel.com reports. The firm owned 653 shares of the energy producer’s stock after acquiring an additional 308 shares during the period. True Wealth Design LLC’s holdings in ConocoPhillips were worth $69,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Transcend Capital Advisors LLC grew its position in ConocoPhillips by 35.9% during the 2nd quarter. Transcend Capital Advisors LLC now owns 12,944 shares of the energy producer’s stock worth $1,481,000 after acquiring an additional 3,419 shares during the last quarter. Park Place Capital Corp grew its holdings in shares of ConocoPhillips by 31.3% in the second quarter. Park Place Capital Corp now owns 2,650 shares of the energy producer’s stock worth $303,000 after purchasing an additional 632 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of ConocoPhillips by 3.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 46,974 shares of the energy producer’s stock worth $5,373,000 after buying an additional 1,588 shares during the period. Moody National Bank Trust Division raised its position in ConocoPhillips by 1.9% during the 2nd quarter. Moody National Bank Trust Division now owns 11,443 shares of the energy producer’s stock valued at $1,309,000 after purchasing an additional 214 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in ConocoPhillips in the 2nd quarter worth approximately $396,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.9 %

Shares of ConocoPhillips stock opened at $108.34 on Friday. 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 company’s 50 day moving average is $108.77 and its 200 day moving average is $110.79. The company has a market cap of $124.69 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 0.89 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last released 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. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period last year, the business posted $2.16 EPS. Research analysts anticipate that ConocoPhillips will post 7.76 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be given a dividend of $0.78 per share. The ex-dividend date is Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.88%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Wall Street Analyst Weigh In

COP has been the topic of several research analyst reports. Scotiabank reduced their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. 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 research note on Friday, October 4th. Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Barclays upped their target price on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. Six 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, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $137.63.

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.