ConocoPhillips $COP Shares Purchased by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC boosted its stake in ConocoPhillips (NYSE:COP) by 41.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 6,773 shares of the energy producer’s stock after purchasing an additional 2,001 shares during the period. Premier Path Wealth Partners LLC’s holdings in ConocoPhillips were worth $608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of ConocoPhillips by 379.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after purchasing an additional 31,736,423 shares during the period. Wellington Management Group LLP lifted its holdings in ConocoPhillips by 1.4% in the first quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock worth $3,319,746,000 after purchasing an additional 437,709 shares during the period. Goldman Sachs Group Inc. grew its position in ConocoPhillips by 30.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after buying an additional 2,080,625 shares in the last quarter. Ameriprise Financial Inc. grew its position in ConocoPhillips by 15.1% in the 1st quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock valued at $861,490,000 after buying an additional 1,073,906 shares in the last quarter. Finally, Nuveen LLC acquired a new position in ConocoPhillips during the 1st quarter valued at about $658,981,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on COP shares. Scotiabank upped their price target 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. Weiss Ratings lowered shares of ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 24th. Melius Research started coverage on ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price for the company. UBS Group decreased their price target on ConocoPhillips from $124.00 to $122.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Finally, Morgan Stanley lowered their price target on ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 14th. Eighteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.63.

ConocoPhillips Trading Up 0.0%

ConocoPhillips stock opened at $88.11 on Friday. The firm has a market cap of $110.04 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 2.36 and a beta of 0.62. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. The firm’s 50 day moving average price is $92.81 and its two-hundred day moving average price is $91.97. 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 announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.98 EPS. On average, research analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business 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 was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.5%. ConocoPhillips’s dividend payout ratio (DPR) is 41.88%.

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.