ConocoPhillips $COP Stock Position Increased by Olistico Wealth LLC

Olistico Wealth LLC boosted its position in shares of ConocoPhillips (NYSE:COP) by 317.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,122 shares of the energy producer’s stock after buying an additional 853 shares during the quarter. Olistico Wealth LLC’s holdings in ConocoPhillips were worth $101,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Financial Network Wealth Advisors LLC grew its stake in shares of ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after purchasing an additional 222 shares during the last quarter. Stone House Investment Management LLC acquired a new position in ConocoPhillips in the first quarter worth approximately $31,000. Garde Capital Inc. bought a new position in shares of ConocoPhillips in the first quarter valued at $35,000. IMA Advisory Services Inc. acquired a new stake in shares of ConocoPhillips during the 1st quarter valued at $37,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of ConocoPhillips by 418.6% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock worth $38,000 after acquiring an additional 293 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

COP stock opened at $94.17 on Friday. The firm has a 50 day simple moving average of $94.92 and a 200 day simple moving average of $92.85. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08. The stock has a market cap of $117.61 billion, a P/E ratio of 12.64, a P/E/G ratio of 2.48 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data 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. The firm had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.98 EPS. Research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a $0.78 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a yield of 3.3%. ConocoPhillips’s payout ratio is 41.88%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on COP. Citigroup cut their target price on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, June 11th. UBS Group upped their price objective on shares of ConocoPhillips from $116.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Melius initiated coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price on the stock. Morgan Stanley restated an “overweight” rating and set a $123.00 price target (up previously from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Finally, Scotiabank raised their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a research note on Friday, July 11th. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $119.77.

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.