Cardinal Capital Management Inc. Acquires 7,420 Shares of ConocoPhillips $COP

Cardinal Capital Management Inc. increased its holdings in ConocoPhillips (NYSE:COP) by 6.0% in the third quarter, HoldingsChannel reports. The firm owned 131,443 shares of the energy producer’s stock after purchasing an additional 7,420 shares during the period. Cardinal Capital Management Inc.’s holdings in ConocoPhillips were worth $12,433,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of COP. Heartland Bank & Trust Co raised its stake in shares of ConocoPhillips by 97.2% in the second quarter. Heartland Bank & Trust Co now owns 6,861 shares of the energy producer’s stock valued at $616,000 after acquiring an additional 3,381 shares during the last quarter. Everpar Advisors LLC increased its holdings in ConocoPhillips by 138.7% during the 2nd quarter. Everpar Advisors LLC now owns 10,413 shares of the energy producer’s stock valued at $934,000 after purchasing an additional 6,051 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in ConocoPhillips by 17.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer’s stock valued at $13,927,000 after purchasing an additional 22,827 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in ConocoPhillips by 2.4% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,395,546 shares of the energy producer’s stock valued at $304,716,000 after purchasing an additional 78,642 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in ConocoPhillips by 22.4% in the second quarter. GAMMA Investing LLC now owns 34,534 shares of the energy producer’s stock worth $3,099,000 after purchasing an additional 6,309 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Down 1.3%

COP opened at $94.25 on Tuesday. The firm has a 50 day simple moving average of $89.56 and a 200 day simple moving average of $92.23. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $106.20. The company has a market cap of $116.47 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 2.16 and a beta of 0.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 1.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. The firm had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the firm earned $1.78 earnings per share. On average, sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were issued a $0.84 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Monday, November 17th. ConocoPhillips’s dividend payout ratio is currently 47.52%.

Analyst Upgrades and Downgrades

COP has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their price target on ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ConocoPhillips in a research note on Monday, December 8th. Raymond James Financial decreased their price target on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Melius began coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target for the company. Finally, Johnson Rice downgraded ConocoPhillips from an “accumulate” rating to a “hold” rating and reduced their price objective for the stock from $108.00 to $105.00 in a report on Friday, December 5th. Nineteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.54.

Insiders Place Their Bets

In related news, Director William H. Mcraven bought 5,768 shares of the business’s stock in a transaction on Monday, November 10th. The shares were purchased at an average price of $86.68 per share, with a total value of $499,970.24. Following the completion of the purchase, the director owned 5,768 shares of the company’s stock, valued at $499,970.24. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.24% of the company’s stock.

ConocoPhillips Company Profile

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.