IVC Wealth Advisors LLC Purchases 401 Shares of ConocoPhillips (NYSE:COP)

IVC Wealth Advisors LLC increased its position in shares of ConocoPhillips (NYSE:COP) by 5.1% in the 1st quarter, HoldingsChannel reports. The fund owned 8,331 shares of the energy producer’s stock after acquiring an additional 401 shares during the period. IVC Wealth Advisors LLC’s holdings in ConocoPhillips were worth $1,060,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its stake in ConocoPhillips by 0.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 27,672,104 shares of the energy producer’s stock valued at $3,211,901,000 after purchasing an additional 108,956 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in ConocoPhillips by 24.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer’s stock valued at $2,752,325,000 after purchasing an additional 4,726,952 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of ConocoPhillips by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,011,035 shares of the energy producer’s stock worth $1,394,162,000 after acquiring an additional 270,859 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of ConocoPhillips by 8.9% during the third quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock worth $968,410,000 after purchasing an additional 659,632 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of ConocoPhillips by 2.8% during the fourth quarter. Fisher Asset Management LLC now owns 7,425,948 shares of the energy producer’s stock worth $861,930,000 after purchasing an additional 204,714 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the subject of several recent research reports. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Wells Fargo & Company raised their target price on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Morgan Stanley raised their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. StockNews.com raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. Finally, Bank of America reissued a “buy” rating and set a $147.00 target price on shares of ConocoPhillips in a report on Friday, June 14th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $144.18.

ConocoPhillips Price Performance

Shares of NYSE COP traded up $0.65 during trading on Wednesday, hitting $114.77. The company had a trading volume of 2,326,037 shares, compared to its average volume of 5,644,886. The stock has a fifty day simple moving average of $117.68 and a two-hundred day simple moving average of $117.61. ConocoPhillips has a fifty-two week low of $99.35 and a fifty-two week high of $135.18. The firm has a market capitalization of $134.23 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 2.04 and a beta of 1.24. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The business had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. On average, research analysts expect that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given a $0.78 dividend. The ex-dividend date was Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.72%. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

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.