Woodward Diversified Capital LLC Acquires 5,086 Shares of ConocoPhillips $COP

Woodward Diversified Capital LLC increased its holdings in ConocoPhillips (NYSE:COP) by 71.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,224 shares of the energy producer’s stock after purchasing an additional 5,086 shares during the period. Woodward Diversified Capital LLC’s holdings in ConocoPhillips were worth $1,097,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in COP. NBC Securities Inc. boosted its position in ConocoPhillips by 114,680.0% during the first quarter. NBC Securities Inc. now owns 5,739 shares of the energy producer’s stock worth $602,000 after purchasing an additional 5,734 shares during the period. Merit Financial Group LLC boosted its holdings in ConocoPhillips by 89.4% during the first quarter. Merit Financial Group LLC now owns 53,174 shares of the energy producer’s stock valued at $5,584,000 after acquiring an additional 25,097 shares during the period. RFG Advisory LLC boosted its holdings in ConocoPhillips by 71.0% during the first quarter. RFG Advisory LLC now owns 12,400 shares of the energy producer’s stock valued at $1,302,000 after acquiring an additional 5,149 shares during the period. Smith Anglin Financial LLC boosted its holdings in ConocoPhillips by 5.3% during the first quarter. Smith Anglin Financial LLC now owns 3,255 shares of the energy producer’s stock valued at $342,000 after acquiring an additional 164 shares during the period. Finally, Romano Brothers AND Company boosted its holdings in ConocoPhillips by 7.7% during the first quarter. Romano Brothers AND Company now owns 9,747 shares of the energy producer’s stock valued at $1,024,000 after acquiring an additional 700 shares during the period. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the subject of several recent analyst reports. Raymond James Financial decreased 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. Susquehanna reduced their target price on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a research note on Wednesday, July 23rd. Roth Capital reiterated a “buy” rating on shares of ConocoPhillips in a research report on Wednesday, September 3rd. Mizuho reduced their price objective on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Finally, BMO Capital Markets raised their price objective on ConocoPhillips from $113.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Sixteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.14.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $95.39 on Thursday. ConocoPhillips has a one year low of $79.88 and a one year high of $116.08. The company has a market capitalization of $119.13 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 2.49 and a beta of 0.62. The business has a 50 day simple moving average of $94.98 and a 200 day simple moving average of $93.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. 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 firm posted $1.98 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal 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 issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, August 18th. 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.