UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Holdings in ConocoPhillips (NYSE:COP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in ConocoPhillips (NYSE:COP) by 17.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,013,513 shares of the energy producer’s stock after buying an additional 896,651 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in ConocoPhillips were worth $633,103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Fisher Asset Management LLC increased its stake in shares of ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock worth $1,311,369,000 after buying an additional 4,656,040 shares during the period. Legal & General Group Plc boosted its holdings in ConocoPhillips by 4.6% in the second quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock valued at $1,132,430,000 after acquiring an additional 438,241 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in ConocoPhillips by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,096,450 shares of the energy producer’s stock valued at $747,114,000 after acquiring an additional 153,944 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in ConocoPhillips by 19.3% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,811,289 shares of the energy producer’s stock valued at $717,093,000 after acquiring an additional 1,101,685 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in ConocoPhillips by 5,422.3% in the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock valued at $482,996,000 after acquiring an additional 4,504,653 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Up 0.6 %

COP stock opened at $107.42 on Thursday. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The company has a market capitalization of $123.63 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 0.87 and a beta of 1.21. The business has a 50 day simple moving average of $108.86 and a two-hundred day simple moving average of $110.98.

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

ConocoPhillips Increases Dividend

The firm 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 represents a $3.12 annualized dividend and a yield of 2.90%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $126.00 price target (down previously from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Mizuho lifted their price target on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, November 1st. BMO Capital Markets lifted their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Susquehanna boosted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently 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.