Zurcher Kantonalbank Zurich Cantonalbank Grows Position in ConocoPhillips (NYSE:COP)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in ConocoPhillips (NYSE:COP) by 4.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 554,708 shares of the energy producer’s stock after purchasing an additional 26,106 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ConocoPhillips were worth $58,400,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in COP. Values First Advisors Inc. purchased a new stake in shares of ConocoPhillips in the 3rd quarter worth about $26,000. Stephens Consulting LLC boosted its stake in ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares in the last quarter. Reston Wealth Management LLC bought a new stake in ConocoPhillips during the third quarter worth about $31,000. Truvestments Capital LLC bought a new position in shares of ConocoPhillips during the third quarter valued at approximately $31,000. Finally, Y.D. More Investments Ltd bought a new position in shares of ConocoPhillips during the second quarter valued at approximately $35,000. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on COP shares. Scotiabank cut their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. UBS Group decreased their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Susquehanna upped their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Six investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $137.63.

ConocoPhillips Stock Up 0.6 %

COP stock opened at $107.42 on Thursday. The company has a market cap of $123.63 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 0.87 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 moving average is $108.86 and its two-hundred day moving average is $110.98. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data 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. The firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.16 EPS. As a group, analysts forecast that ConocoPhillips will post 7.76 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders 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 dividend yield of 2.90%. The ex-dividend date is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

ConocoPhillips 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.