7,534,536 ConocoPhillips $COP Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its ConocoPhillips position by 1,181% in the third quarter, buying 7.53 million shares and ending with 8.17 million shares valued at approximately $1.02 billion.
• ConocoPhillips reported quarterly EPS of $3.24, exceeding estimates of $2.90, while revenue rose 32.4% year over year to $19.52 billion. The company also pays a quarterly dividend of $0.84, equivalent to a 2.4% annual yield.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $143.62; shares recently opened at $141.66.

Assenagon Asset Management S.A. increased its holdings in ConocoPhillips (NYSE:COP - Free Report) by 1,181.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,172,490 shares of the energy producer's stock after buying an additional 7,534,536 shares during the period. ConocoPhillips comprises about 0.7% of Assenagon Asset Management S.A.'s holdings, making the stock its 22nd largest position. Assenagon Asset Management S.A. owned about 0.68% of ConocoPhillips worth $1,022,787,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Patten Group Inc. raised its position in shares of ConocoPhillips by 1.5% during the 1st quarter. Patten Group Inc. now owns 5,447 shares of the energy producer's stock worth $719,000 after purchasing an additional 83 shares during the last quarter. IFC Advisors LLC lifted its position in shares of ConocoPhillips by 0.4% in the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer's stock valued at $2,664,000 after acquiring an additional 84 shares in the last quarter. Cornerstone Planning Group LLC lifted its position in shares of ConocoPhillips by 9.6% in the first quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer's stock valued at $124,000 after acquiring an additional 88 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of ConocoPhillips by 0.4% during the first quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer's stock valued at $2,791,000 after acquiring an additional 92 shares during the last quarter. Finally, Sigma Planning Corp boosted its stake in shares of ConocoPhillips by 0.6% during the first quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer's stock valued at $2,120,000 after acquiring an additional 94 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Trading Down 0.5%

Shares of ConocoPhillips stock opened at $141.66 on Friday. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $143.13. The business's fifty day moving average is $131.53 and its two-hundred day moving average is $122.27. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The firm has a market cap of $170.19 billion, a PE ratio of 18.34, a P/E/G ratio of 1.46 and a beta of 0.24.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same quarter in the previous year, the business earned $1.42 earnings per share. The business's revenue for the quarter was up 32.4% on a year-over-year basis. Analysts anticipate that ConocoPhillips will post 10.84 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 2.4%. ConocoPhillips's payout ratio is 44.44%.

Insider Buying and Selling

In other news, SVP Andrew Lundquist sold 9,487 shares of the company's stock in a transaction dated Friday, August 21st. The shares were 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 $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 is available through this link. 0.09% of the stock is owned by company insiders.

Analysts Set New Price Targets

COP has been the subject of a number of recent research reports. Wall Street Zen upgraded ConocoPhillips from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Weiss Ratings upgraded shares of ConocoPhillips from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, September 29th. Royal Bank Of Canada set a $130.00 price target on shares of ConocoPhillips in a research note on Monday, June 22nd. Roth Capital raised shares of ConocoPhillips from a "neutral" rating to a "buy" rating and raised their price target for the stock from $124.00 to $130.00 in a research note on Monday, June 22nd. Finally, Wells Fargo & Company lifted their price target on shares of ConocoPhillips from $183.00 to $189.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $143.62.

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.

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