Soltis Investment Advisors LLC Has $1.73 Million Stock Position in ConocoPhillips (NYSE:COP)

Soltis Investment Advisors LLC raised its holdings in ConocoPhillips (NYSE:COP) by 8.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 13,561 shares of the energy producer’s stock after acquiring an additional 1,068 shares during the quarter. Soltis Investment Advisors LLC’s holdings in ConocoPhillips were worth $1,726,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sachetta LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter worth $27,000. Cooksen Wealth LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter worth $27,000. Cape Investment Advisory Inc. increased its position in shares of ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after buying an additional 121 shares during the period. Richardson Capital Management LLC bought a new position in ConocoPhillips during the first quarter worth $31,000. Finally, Northwest Bank & Trust Co bought a new position in ConocoPhillips during the fourth quarter worth $32,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of COP traded down $2.62 during trading hours on Friday, hitting $105.77. The company’s stock had a trading volume of 7,445,068 shares, compared to its average volume of 5,694,223. The company has a market cap of $123.70 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 2.14 and a beta of 1.24. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.21. The business has a 50 day simple moving average of $112.75 and a two-hundred day simple moving average of $117.04. ConocoPhillips has a 52-week low of $103.98 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.08). The business had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. ConocoPhillips’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.84 EPS. On average, equities analysts expect that ConocoPhillips will post 8.73 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be given a $0.58 dividend. The ex-dividend date is Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.19%. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Raymond James reissued a “strong-buy” rating and set a $159.00 target price (up from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Wolfe Research assumed coverage on shares of ConocoPhillips in a research note on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price on the stock. Barclays increased their target price on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Susquehanna raised their price objective on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Finally, Mizuho dropped their price objective on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 5th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.06.

ConocoPhillips 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.