Heritage Investors Management Corp Purchases 5,580 Shares of ConocoPhillips (NYSE:COP)

Heritage Investors Management Corp grew its stake in ConocoPhillips (NYSE:COP) by 2.9% in the 3rd quarter, Holdings Channel reports. The firm owned 198,580 shares of the energy producer’s stock after purchasing an additional 5,580 shares during the period. Heritage Investors Management Corp’s holdings in ConocoPhillips were worth $20,907,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of COP. Whittier Trust Co. grew its holdings in ConocoPhillips by 11.7% in the first quarter. Whittier Trust Co. now owns 19,734 shares of the energy producer’s stock worth $2,512,000 after purchasing an additional 2,060 shares during the period. TFB Advisors LLC bought a new position in ConocoPhillips in the first quarter worth approximately $320,000. Catalina Capital Group LLC raised its position in ConocoPhillips by 120.1% in the first quarter. Catalina Capital Group LLC now owns 6,109 shares of the energy producer’s stock worth $778,000 after acquiring an additional 3,333 shares during the period. 9258 Wealth Management LLC raised its position in ConocoPhillips by 6.8% in the first quarter. 9258 Wealth Management LLC now owns 5,165 shares of the energy producer’s stock worth $657,000 after acquiring an additional 331 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in ConocoPhillips by 23.7% in the first quarter. Geneos Wealth Management Inc. now owns 8,129 shares of the energy producer’s stock worth $1,035,000 after acquiring an additional 1,557 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Up 0.3 %

Shares of NYSE:COP traded up $0.34 during trading hours on Tuesday, hitting $109.20. The company’s stock had a trading volume of 168,033 shares, compared to its average volume of 5,879,148. ConocoPhillips has a 52 week low of $101.29 and a 52 week 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 $125.68 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 0.88 and a beta of 1.21. The firm’s fifty day moving average price is $107.84 and its 200 day moving average price is $112.66.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating 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 business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same quarter in the previous year, the business posted $2.16 EPS. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. As a group, research analysts expect that ConocoPhillips will post 7.78 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently announced 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. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s payout ratio is currently 27.59%.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the transaction, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Mizuho increased their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research note on Friday. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Scotiabank dropped their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Finally, Barclays lifted their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday. Six investment 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 company’s stock. According to data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $137.47.

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.