Glenmede Trust Co. NA Buys 14,030 Shares of ConocoPhillips (NYSE:COP)

Glenmede Trust Co. NA boosted its position in shares of ConocoPhillips (NYSE:COP) by 4.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 337,449 shares of the energy producer’s stock after acquiring an additional 14,030 shares during the period. Glenmede Trust Co. NA’s holdings in ConocoPhillips were worth $35,527,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Values First Advisors Inc. purchased a new stake in shares of ConocoPhillips during the third quarter worth about $26,000. Stephens Consulting LLC boosted its position in shares of ConocoPhillips by 69.3% during the second 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 purchased a new position in ConocoPhillips during the third quarter valued at $31,000. Truvestments Capital LLC bought a new stake in ConocoPhillips in the 3rd quarter valued at $31,000. Finally, Y.D. More Investments Ltd purchased a new stake in ConocoPhillips in the 2nd quarter worth $35,000. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on COP. Barclays raised their price objective on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. UBS Group lowered their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Scotiabank reduced their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Susquehanna increased their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $137.63.

ConocoPhillips Stock Performance

COP opened at $107.42 on Thursday. The firm’s 50-day moving average price is $108.86 and its 200-day moving average price is $110.98. The company has a market cap of $123.63 billion, a P/E ratio of 12.77, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the previous year, the firm posted $2.16 earnings per share. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, equities analysts anticipate that ConocoPhillips will post 7.76 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared 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. This represents a $3.12 annualized dividend and a yield of 2.90%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. ConocoPhillips’s dividend payout ratio is presently 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.