Freestone Capital Holdings LLC Purchases 10,378 Shares of ConocoPhillips $COP

Freestone Capital Holdings LLC grew its holdings in ConocoPhillips (NYSE:COP) by 26.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,240 shares of the energy producer’s stock after purchasing an additional 10,378 shares during the quarter. Freestone Capital Holdings LLC’s holdings in ConocoPhillips were worth $4,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Financial Network Wealth Advisors LLC increased its stake in 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 in the last quarter. Stone House Investment Management LLC bought a new stake in ConocoPhillips during the first quarter worth $31,000. Bogart Wealth LLC grew its stake in shares of ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after acquiring an additional 182 shares in the last quarter. Activest Wealth Management increased its stake in ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after buying an additional 232 shares during the last quarter. Finally, IMA Advisory Services Inc. bought a new position in ConocoPhillips in the 1st quarter valued at $37,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP opened at $88.99 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The firm’s 50-day simple moving average is $92.66 and its two-hundred day simple moving average is $92.07. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38. The stock has a market cap of $111.14 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 2.36 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last issued 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 return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. During the same period last year, the company earned $1.98 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. Analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.78 dividend. The ex-dividend date of this dividend 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 presently 41.88%.

Analyst Ratings Changes

COP has been the subject of several research analyst reports. Weiss Ratings lowered shares of ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 24th. Susquehanna cut their price target on shares of ConocoPhillips to $113.00 and set a “positive” rating for the company in a report on Monday, October 20th. Morgan Stanley decreased their price objective on shares of ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 14th. Barclays reduced their price objective on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Finally, Piper Sandler lowered their target price on ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating for the company in a research note on Monday, October 13th. Eighteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $114.63.

ConocoPhillips 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.