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

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in ConocoPhillips (NYSE:COP) by 4.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 554,708 shares of the energy producer’s stock after purchasing an additional 26,106 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ConocoPhillips were worth $58,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Truist Financial reduced their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, UBS Group cut 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. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $137.63.

ConocoPhillips Stock Up 0.6 %

NYSE COP opened at $107.42 on Thursday. The business’s 50-day moving average is $108.86 and its 200 day moving average is $110.98. The stock has a market capitalization of $123.63 billion, a PE ratio of 12.77, a PEG ratio of 0.87 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. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating 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 return on equity of 19.53% and a net margin of 17.29%. The business’s revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.16 earnings per share. Sell-side analysts forecast that ConocoPhillips will post 7.76 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be issued a $0.78 dividend. The ex-dividend date is Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.90%. ConocoPhillips’s dividend payout ratio is 37.10%.

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.