ConocoPhillips $COP Shares Acquired by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. grew its holdings in ConocoPhillips (NYSE:COP) by 3.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 143,522 shares of the energy producer’s stock after buying an additional 4,678 shares during the quarter. Cardinal Capital Management Inc.’s holdings in ConocoPhillips were worth $17,962,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of COP. Frazier Financial Advisors LLC increased its stake in shares of ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after buying an additional 145 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of ConocoPhillips during the fourth quarter valued at approximately $25,000. Ballast Advisors LLC purchased a new stake in ConocoPhillips in the first quarter worth $36,000. Evergreen Advisors LLC purchased a new stake in ConocoPhillips in the first quarter worth $36,000. Finally, Allied Private Wealth LLC bought a new stake in ConocoPhillips in the second quarter valued at $32,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 3.3%

Shares of NYSE:COP opened at $146.43 on Friday. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $146.59. The firm has a market capitalization of $175.92 billion, a P/E ratio of 19.37, a P/E/G ratio of 1.41 and a beta of 0.24. The stock has a 50 day moving average price of $132.11 and a 200-day moving average price of $122.44. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The company had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $18.79 billion. During the same quarter last year, the business posted $1.42 EPS. The firm’s revenue for the quarter was up 32.4% compared to the same quarter last year. As a group, equities research analysts anticipate that ConocoPhillips will post 11.19 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were issued a $0.84 dividend. The ex-dividend date was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.3%. ConocoPhillips’s dividend payout ratio is 44.44%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Weiss Ratings raised shares of ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, September 29th. The Goldman Sachs Group dropped their target price on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Roth Capital raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and raised their target price for the stock from $124.00 to $130.00 in a research report on Monday, June 22nd. Seaport Research Partners started coverage on shares of ConocoPhillips in a research note on Thursday, September 3rd. They set a “neutral” rating on the stock. Finally, Morgan Stanley boosted their price target on shares of ConocoPhillips from $151.00 to $159.00 and gave the company an “overweight” rating in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.62.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the transaction, the senior vice president owned 9,593 shares of the company’s stock, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.09% of the company’s stock.

ConocoPhillips Profile

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

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.