Fisher Asset Management LLC Acquires 4,656,040 Shares of ConocoPhillips (NYSE:COP)

Fisher Asset Management LLC lifted its stake in ConocoPhillips (NYSE:COP) by 59.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,456,011 shares of the energy producer’s stock after purchasing an additional 4,656,040 shares during the period. Fisher Asset Management LLC owned 1.08% of ConocoPhillips worth $1,311,369,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips during the 3rd quarter worth about $26,000. Stephens Consulting LLC boosted its stake in 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 acquiring an additional 104 shares during the last quarter. Reston Wealth Management LLC bought a new position in ConocoPhillips during the 3rd quarter worth approximately $31,000. Y.D. More Investments Ltd acquired a new position in ConocoPhillips during the second quarter valued at approximately $35,000. Finally, Fairway Wealth LLC increased its stake in ConocoPhillips by 95.6% in the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after purchasing an additional 153 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Barclays boosted their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $126.00 price target (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. UBS Group decreased their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $137.63.

ConocoPhillips Stock Performance

Shares of COP opened at $111.75 on Monday. 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 firm has a 50-day moving average of $108.91 and a 200-day moving average of $111.23. The company has a market cap of $128.61 billion, a PE ratio of 13.29, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share 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 firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the previous year, the business earned $2.16 earnings per share. The business’s revenue was down 8.5% compared to the same quarter last year. As a group, equities analysts forecast that ConocoPhillips will post 7.78 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio 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.