Segment Wealth Management LLC Has $1.24 Million Holdings in ConocoPhillips $COP

Segment Wealth Management LLC lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 0.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,844 shares of the energy producer’s stock after selling 123 shares during the period. Segment Wealth Management LLC’s holdings in ConocoPhillips were worth $1,242,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of COP. Financial Network Wealth Advisors LLC raised its stake in ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after buying an additional 222 shares during the last quarter. Stone House Investment Management LLC bought a new stake in shares of ConocoPhillips during the first quarter worth about $31,000. Garde Capital Inc. bought a new stake in shares of ConocoPhillips during the first quarter worth about $35,000. IMA Advisory Services Inc. bought a new stake in shares of ConocoPhillips during the first quarter worth about $37,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its holdings in ConocoPhillips by 418.6% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock worth $38,000 after purchasing an additional 293 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 0.8%

Shares of COP opened at $94.17 on Friday. The stock has a market capitalization of $117.61 billion, a P/E ratio of 12.64, a PEG ratio of 2.46 and a beta of 0.62. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $94.92 and a two-hundred day simple moving average of $92.91. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. During the same quarter in the prior year, the company posted $1.98 EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is currently 41.88%.

Wall Street Analysts Forecast Growth

COP has been the topic of several analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of ConocoPhillips in a report on Saturday, September 27th. Melius began coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $123.00 target price (up previously from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Mizuho decreased their target price on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Finally, Scotiabank increased their price target on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a report on Friday, July 11th. Sixteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $120.14.

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.