Concord Asset Management LLC VA Has $2.87 Million Stake in ConocoPhillips $COP

Concord Asset Management LLC VA decreased its position in ConocoPhillips (NYSE:COP) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,957 shares of the energy producer’s stock after selling 591 shares during the quarter. Concord Asset Management LLC VA’s holdings in ConocoPhillips were worth $2,868,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Network Wealth Advisors LLC grew its position in shares of ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 222 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in ConocoPhillips during the first quarter worth approximately $31,000. Garde Capital Inc. acquired a new stake in ConocoPhillips during the first quarter worth approximately $35,000. IMA Advisory Services Inc. acquired a new stake in ConocoPhillips during the first quarter worth approximately $37,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its position 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 buying an additional 293 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on COP shares. Raymond James Financial cut their target price on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. Barclays dropped their price target on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Evercore ISI dropped their price target on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research note on Monday, October 6th. Jefferies Financial Group set a $124.00 price target on ConocoPhillips in a research note on Sunday. Finally, Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $117.52.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $87.83 on Monday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $94.60 and a two-hundred day moving average price of $92.44. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38. The company has a market cap of $109.70 billion, a P/E ratio of 11.79, a PEG ratio of 2.33 and a beta of 0.62.

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

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.6%. ConocoPhillips’s dividend payout ratio (DPR) is presently 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.