272,808 ConocoPhillips $COP Shares Purchased by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management increased its ConocoPhillips stake by 82.3% in the third quarter, purchasing 272,808 shares and bringing its total holdings to 604,449 shares worth approximately $75.6 million.
• ConocoPhillips reported strong quarterly results, with EPS of $3.24 beating estimates by $0.34 and revenue rising 32.4% year over year to $19.52 billion. The company also maintains a quarterly dividend of $0.84 per share, yielding about 2.3% annually.
• Analyst sentiment remains favorable, with the stock receiving a consensus “Moderate Buy” rating and several firms raising price targets to between $159 and $175, despite an executive selling 9,487 shares.

Robeco Institutional Asset Management B.V. boosted its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 82.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 604,449 shares of the energy producer's stock after buying an additional 272,808 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.05% of ConocoPhillips worth $75,647,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of COP. Frazier Financial Advisors LLC raised its stake in shares of ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer's stock valued at $32,000 after acquiring an additional 145 shares in the last quarter. Allied Private Wealth LLC acquired a new position in ConocoPhillips during the 2nd quarter worth $32,000. Evergreen Advisors LLC acquired a new position in ConocoPhillips during the 1st quarter worth $36,000. Ballast Advisors LLC purchased a new stake in ConocoPhillips during the 1st quarter worth about $36,000. Finally, Avalon Trust Co purchased a new stake in ConocoPhillips during the 1st quarter worth about $40,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $145.80 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The firm has a fifty day moving average price of $133.76 and a 200 day moving average price of $122.80. The company has a market cap of $175.15 billion, a P/E ratio of 19.29, a PEG ratio of 1.45 and a beta of 0.24. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $147.55.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The firm had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. During the same quarter in the prior year, the company posted $1.42 earnings per share. ConocoPhillips's revenue for the quarter was up 32.4% compared to the same quarter last year. Sell-side analysts predict that ConocoPhillips will post 11.19 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips's dividend payout ratio is currently 44.44%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on COP shares. Jefferies Financial Group increased their price target on ConocoPhillips from $159.00 to $174.00 and gave the company a "buy" rating in a research report on Tuesday, October 6th. UBS Group boosted their price objective on ConocoPhillips from $153.00 to $169.00 and gave the stock a "buy" rating in a research report on Monday, September 14th. Wall Street Zen upgraded shares of ConocoPhillips from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Susquehanna upped their target price on shares of ConocoPhillips from $161.00 to $175.00 and gave the stock a "positive" rating in a research note on Tuesday. Finally, Morgan Stanley raised their target price on shares of ConocoPhillips from $151.00 to $159.00 and gave the company an "overweight" rating in a report on Thursday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $145.00.

Insider Activity

In other news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction dated Friday, August 21st. The stock was 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 in the company, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate 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 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.

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