Qsemble Capital Management LP Raises Holdings in ConocoPhillips (NYSE:COP)

Qsemble Capital Management LP increased its holdings in ConocoPhillips (NYSE:COP) by 3.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 33,787 shares of the energy producer’s stock after buying an additional 1,183 shares during the period. Qsemble Capital Management LP’s holdings in ConocoPhillips were worth $3,557,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Values First Advisors Inc. purchased a new position in ConocoPhillips during the third quarter worth $26,000. Stephens Consulting LLC boosted its stake in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares during the period. Reston Wealth Management LLC bought a new position in ConocoPhillips during the 3rd quarter valued at about $31,000. Truvestments Capital LLC purchased a new stake in ConocoPhillips in the 3rd quarter worth about $31,000. Finally, Y.D. More Investments Ltd bought a new stake in ConocoPhillips in the second quarter worth about $35,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on COP. Susquehanna boosted their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Scotiabank lowered 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. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. Truist Financial reduced their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Barclays lifted their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Six analysts have rated the stock with a hold rating, eleven have assigned 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.

ConocoPhillips Price Performance

Shares of NYSE:COP traded down $2.74 during midday trading on Monday, hitting $109.01. The company had a trading volume of 2,210,686 shares, compared to its average volume of 5,888,066. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The stock has a market cap of $125.46 billion, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21. 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 business’s 50-day simple moving average is $108.91 and its 200-day simple moving average is $111.23.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business 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 company earned $2.16 EPS. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, research analysts predict that ConocoPhillips will post 7.78 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business 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 2.86%. The ex-dividend date is Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

ConocoPhillips Company 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.