Cerity Partners LLC Purchases 45,542 Shares of ConocoPhillips (NYSE:COP)

Cerity Partners LLC lifted its position in ConocoPhillips (NYSE:COP) by 20.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 267,329 shares of the energy producer’s stock after acquiring an additional 45,542 shares during the quarter. Cerity Partners LLC’s holdings in ConocoPhillips were worth $28,144,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in COP. Values First Advisors Inc. bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $26,000. Stephens Consulting LLC increased its holdings in ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after buying an additional 104 shares during the period. Reston Wealth Management LLC purchased a new position in ConocoPhillips during the third quarter valued at approximately $31,000. Y.D. More Investments Ltd bought a new position in ConocoPhillips in the second quarter worth approximately $35,000. Finally, Fairway Wealth LLC lifted its holdings 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 buying an additional 153 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

COP has been the subject of several recent research reports. Scotiabank reduced their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Susquehanna boosted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Barclays raised their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Finally, UBS Group lowered their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Six equities research 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $137.63.

ConocoPhillips Stock Down 0.1 %

ConocoPhillips stock opened at $111.75 on Monday. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The company has a market cap of $128.61 billion, a PE ratio of 13.29, a PEG ratio of 0.91 and a beta of 1.21. 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 business’s 50-day simple moving average is $108.91 and its two-hundred day simple moving average is $111.23.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the prior year, the company earned $2.16 EPS. ConocoPhillips’s quarterly revenue was down 8.5% on a year-over-year basis. Equities analysts anticipate that ConocoPhillips will post 7.78 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.79%. ConocoPhillips’s 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.