Circle Wealth Management LLC Buys 533 Shares of ConocoPhillips (NYSE:COP)

Circle Wealth Management LLC lifted its stake in ConocoPhillips (NYSE:COP) by 6.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,352 shares of the energy producer’s stock after purchasing an additional 533 shares during the period. Circle Wealth Management LLC’s holdings in ConocoPhillips were worth $985,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Values First Advisors Inc. bought a new position in ConocoPhillips during the 3rd quarter worth about $26,000. Stephens Consulting LLC boosted 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 valued at $29,000 after buying an additional 104 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $31,000. Truvestments Capital LLC purchased a new position in shares of ConocoPhillips in the 3rd quarter valued at approximately $31,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at approximately $35,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $108.37 on Friday. 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 quick ratio of 1.16 and a current ratio of 1.30. The company’s fifty day moving average price is $108.77 and its 200 day moving average price is $110.86. The stock has a market capitalization of $124.72 billion, a P/E ratio of 12.89, a P/E/G ratio of 0.88 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) 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 analysts’ expectations of $13.97 billion. During the same quarter in the previous year, the company posted $2.16 EPS. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. As a group, equities research analysts anticipate that ConocoPhillips will post 7.76 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.88%. The ex-dividend date is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 37.10%.

Analysts Set New Price Targets

Several brokerages recently commented on COP. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a research report on Friday, September 13th. Mizuho increased their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Barclays increased their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. BMO Capital Markets increased their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, Susquehanna raised their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. 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. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price 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.