Bridgewater Associates LP Acquires 1,141 Shares of ConocoPhillips (NYSE:COP)

Bridgewater Associates LP increased its holdings in ConocoPhillips (NYSE:COP) by 58.9% in the third quarter, HoldingsChannel.com reports. The fund owned 3,079 shares of the energy producer’s stock after acquiring an additional 1,141 shares during the period. Bridgewater Associates LP’s holdings in ConocoPhillips were worth $324,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Fisher Asset Management LLC boosted its stake in shares of ConocoPhillips by 59.7% during the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after purchasing an additional 4,656,040 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in ConocoPhillips by 5,422.3% in the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after buying an additional 4,504,653 shares during the period. Primecap Management Co. CA boosted its position in ConocoPhillips by 48.9% during the 3rd quarter. Primecap Management Co. CA now owns 4,320,905 shares of the energy producer’s stock valued at $454,905,000 after acquiring an additional 1,418,900 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of ConocoPhillips by 10,634.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer’s stock worth $126,933,000 after acquiring an additional 1,194,434 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its position in shares of ConocoPhillips by 19.3% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,811,289 shares of the energy producer’s stock worth $717,093,000 after acquiring an additional 1,101,685 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

NYSE COP opened at $106.05 on Wednesday. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The stock has a 50-day moving average of $108.64 and a 200 day moving average of $110.52. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The company has a market capitalization of $122.05 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 0.87 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.16 earnings per share. On average, sell-side analysts forecast that ConocoPhillips will post 7.76 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.94%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Analyst Ratings Changes

A number of equities analysts have issued reports on COP shares. Barclays increased their price objective on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. Scotiabank dropped their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Finally, UBS Group dropped their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $137.63.

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.