ConocoPhillips $COP Stock Bought by True Freedom Investing LLC

True Freedom Investing LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 9.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 87,561 shares of the energy producer’s stock after acquiring an additional 7,740 shares during the period. ConocoPhillips accounts for approximately 1.7% of True Freedom Investing LLC’s portfolio, making the stock its 10th biggest holding. True Freedom Investing LLC’s holdings in ConocoPhillips were worth $10,958,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its position in ConocoPhillips by 73.2% in the 2nd quarter. State Street Corp now owns 118,591,447 shares of the energy producer’s stock valued at $12,328,767,000 after acquiring an additional 50,116,727 shares during the period. BlackRock Inc. raised its stake in ConocoPhillips by 3.0% during the 2nd quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock valued at $9,760,436,000 after acquiring an additional 2,712,703 shares in the last quarter. Wellington Management Group LLP boosted its position in ConocoPhillips by 12.0% during the 2nd quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer’s stock worth $1,566,901,000 after acquiring an additional 1,609,759 shares during the period. Bank of America Corp DE acquired a new position in ConocoPhillips during the 2nd quarter worth $1,260,482,000. Finally, Primecap Management Co. CA bought a new position in shares of ConocoPhillips in the second quarter worth $1,204,726,000. 82.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on COP. Stifel Nicolaus began coverage on ConocoPhillips in a report on Thursday, September 10th. They set a “hold” rating and a $148.00 price target on the stock. William Blair assumed coverage on shares of ConocoPhillips in a research note on Wednesday. They set a “market perform” rating on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $157.00 price objective on shares of ConocoPhillips in a report on Tuesday, October 20th. Seaport Research Partners started coverage on shares of ConocoPhillips in a research report on Thursday, September 3rd. They issued a “neutral” rating for the company. Finally, Barclays lowered their target price on shares of ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $145.08.

Insider Activity

In other news, SVP Andrew Lundquist sold 9,487 shares of ConocoPhillips stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the transaction, the senior vice president owned 9,593 shares of the company’s stock, valued at $1,296,493.95. The trade was a 49.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.09% of the stock is owned by corporate insiders.

ConocoPhillips Trading Up 0.0%

Shares of ConocoPhillips stock opened at $154.10 on Monday. The business has a fifty day simple moving average of $136.14 and a 200-day simple moving average of $121.05. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $154.28. The firm has a market cap of $185.13 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.50 and a beta of 0.16. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $18.79 billion. During the same period in the previous year, the business earned $1.42 earnings per share. ConocoPhillips’s revenue for the quarter was up 32.4% compared to the same quarter last year. On average, equities analysts forecast that ConocoPhillips will post 11.41 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were paid a $0.84 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.36 annualized dividend and a dividend yield of 2.2%. ConocoPhillips’s payout ratio is currently 44.44%.

ConocoPhillips Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.