Fisher Asset Management LLC Has $1.31 Billion Stake in ConocoPhillips (NYSE:COP)

Fisher Asset Management LLC increased its stake in shares of ConocoPhillips (NYSE:COP) by 59.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,456,011 shares of the energy producer’s stock after buying an additional 4,656,040 shares during the quarter. Fisher Asset Management LLC’s holdings in ConocoPhillips were worth $1,311,369,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its stake in ConocoPhillips by 5,422.3% during the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after purchasing an additional 4,504,653 shares during the last quarter. Primecap Management Co. CA increased its stake in shares of ConocoPhillips by 48.9% in the 3rd quarter. Primecap Management Co. CA now owns 4,320,905 shares of the energy producer’s stock valued at $454,905,000 after purchasing an additional 1,418,900 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of ConocoPhillips by 10,634.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer’s stock worth $126,933,000 after buying an additional 1,194,434 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of ConocoPhillips by 19.3% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,811,289 shares of the energy producer’s stock worth $717,093,000 after buying an additional 1,101,685 shares during the last quarter. Finally, Encompass Capital Advisors LLC acquired a new stake in ConocoPhillips in the second quarter valued at about $60,050,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.1 %

NYSE:COP opened at $111.75 on Monday. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. 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 stock has a market capitalization of $128.61 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.91 and a beta of 1.21. The firm has a fifty day simple moving average of $108.91 and a two-hundred day simple moving average of $111.23.

ConocoPhillips (NYSE:COP) last issued its 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 return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same period last year, the business posted $2.16 EPS. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. Analysts expect that ConocoPhillips will post 7.78 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.79%. This is a positive change 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%.

Analyst Upgrades and Downgrades

COP has been the subject of several research analyst reports. UBS Group lowered their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Mizuho upped their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Scotiabank cut their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Susquehanna upped their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $126.00 price objective (down previously from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.