Sax Wealth Advisors LLC Increases Stock Holdings in ConocoPhillips $COP

Sax Wealth Advisors LLC lifted its stake in shares of ConocoPhillips (NYSE:COP) by 8.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,286 shares of the energy producer’s stock after buying an additional 180 shares during the quarter. Sax Wealth Advisors LLC’s holdings in ConocoPhillips were worth $205,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of COP. Harbor Capital Advisors Inc. raised its holdings in shares of ConocoPhillips by 1,364.3% during the 1st quarter. Harbor Capital Advisors Inc. now owns 26,211 shares of the energy producer’s stock valued at $2,753,000 after buying an additional 24,421 shares during the period. Simplicity Wealth LLC purchased a new stake in ConocoPhillips during the 1st quarter worth approximately $1,068,000. Focus Financial Network Inc. increased its holdings in ConocoPhillips by 2.9% during the 1st quarter. Focus Financial Network Inc. now owns 5,217 shares of the energy producer’s stock worth $548,000 after purchasing an additional 147 shares during the last quarter. Simon Quick Advisors LLC increased its holdings in ConocoPhillips by 18.8% during the 1st quarter. Simon Quick Advisors LLC now owns 6,763 shares of the energy producer’s stock worth $710,000 after purchasing an additional 1,068 shares during the last quarter. Finally, apricus wealth LLC increased its holdings in ConocoPhillips by 1.3% during the 1st quarter. apricus wealth LLC now owns 23,992 shares of the energy producer’s stock worth $2,520,000 after purchasing an additional 310 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on COP shares. Raymond James Financial dropped their price objective on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Mizuho dropped their price objective on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Wells Fargo & Company restated an “overweight” rating and set a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Susquehanna decreased their target price on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a research report on Wednesday, July 23rd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of ConocoPhillips in a research report on Wednesday. Sixteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $117.23.

ConocoPhillips Price Performance

Shares of COP opened at $91.94 on Friday. The firm has a market cap of $114.83 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 2.49 and a beta of 0.62. The stock has a 50 day moving average of $94.70 and a 200-day moving average of $92.69. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the previous year, the firm posted $1.98 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a yield of 3.4%. ConocoPhillips’s payout ratio is currently 41.88%.

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.