Cheviot Value Management LLC Boosts Holdings in ConocoPhillips (NYSE:COP)

Cheviot Value Management LLC increased its holdings in ConocoPhillips (NYSE:COP) by 0.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 93,262 shares of the energy producer’s stock after purchasing an additional 114 shares during the period. ConocoPhillips makes up about 1.9% of Cheviot Value Management LLC’s holdings, making the stock its 20th biggest holding. Cheviot Value Management LLC’s holdings in ConocoPhillips were worth $9,819,000 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. Manning & Napier Advisors LLC bought a new position in shares of ConocoPhillips during the second quarter valued at about $30,021,000. Alpha DNA Investment Management LLC boosted its holdings in ConocoPhillips by 83.8% during the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock valued at $1,879,000 after acquiring an additional 7,490 shares during the period. Prospera Financial Services Inc boosted its holdings in ConocoPhillips by 23.6% during the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after acquiring an additional 13,595 shares during the period. Pacer Advisors Inc. grew its position in ConocoPhillips by 5,422.3% during the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after acquiring an additional 4,504,653 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in ConocoPhillips by 1.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock worth $262,094,000 after purchasing an additional 46,621 shares during the period. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on COP. Barclays increased their price objective on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Truist Financial decreased their price objective on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $126.00 target price (down from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $137.63.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $108.79 on Monday. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The firm has a market capitalization of $125.21 billion, a P/E ratio of 12.88, a P/E/G ratio of 0.89 and a beta of 1.21. 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 business has a fifty day simple moving average of $108.77 and a two-hundred day simple moving average of $110.72.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’s revenue was down 8.5% on a year-over-year basis. During the same period last year, the company posted $2.16 EPS. On average, equities analysts forecast that ConocoPhillips will post 7.76 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. Investors of record on Monday, November 11th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.87%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is presently 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.