Turtle Creek Wealth Advisors LLC Boosts Stake in ConocoPhillips (NYSE:COP)

Turtle Creek Wealth Advisors LLC boosted its holdings in ConocoPhillips (NYSE:COP) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,873 shares of the energy producer’s stock after acquiring an additional 158 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in ConocoPhillips were worth $724,000 as of its most recent filing with the SEC.

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

ConocoPhillips Stock Performance

Shares of NYSE:COP traded down $0.60 during trading hours on Friday, hitting $112.32. The stock had a trading volume of 4,124,037 shares, compared to its average volume of 5,882,573. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The stock’s fifty day simple moving average is $108.01 and its 200 day simple moving average is $111.78. The firm has a market capitalization of $129.27 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 0.91 and a beta of 1.21. ConocoPhillips has a 1-year low of $101.29 and a 1-year 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. The company had revenue of $13.60 billion during 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 firm’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.16 EPS. Sell-side analysts anticipate 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 dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.78%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. ConocoPhillips’s payout ratio is 37.10%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on COP shares. UBS Group dropped 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. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. BMO Capital Markets raised their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $126.00 target price (down previously from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Finally, Susquehanna raised their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average price target 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.