Summit Place Financial Advisors LLC Buys 150 Shares of ConocoPhillips $COP

Summit Place Financial Advisors LLC increased its stake in shares of ConocoPhillips (NYSE:COP) by 1.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,875 shares of the energy producer’s stock after buying an additional 150 shares during the quarter. Summit Place Financial Advisors LLC’s holdings in ConocoPhillips were worth $1,066,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Acima Private Wealth LLC lifted its position in shares of ConocoPhillips by 3.8% during the 2nd quarter. Acima Private Wealth LLC now owns 5,450 shares of the energy producer’s stock worth $489,000 after buying an additional 200 shares during the period. Strengthening Families & Communities LLC raised its position in ConocoPhillips by 0.8% in the 2nd quarter. Strengthening Families & Communities LLC now owns 18,558 shares of the energy producer’s stock valued at $1,680,000 after purchasing an additional 140 shares during the last quarter. PDS Planning Inc raised its position in ConocoPhillips by 7.1% in the 2nd quarter. PDS Planning Inc now owns 11,585 shares of the energy producer’s stock valued at $1,040,000 after purchasing an additional 764 shares during the last quarter. Blue Trust Inc. raised its position in ConocoPhillips by 1.3% in the 2nd quarter. Blue Trust Inc. now owns 20,754 shares of the energy producer’s stock valued at $1,863,000 after purchasing an additional 276 shares during the last quarter. Finally, Fourpath Capital Management LLC raised its position in ConocoPhillips by 3.6% in the 2nd quarter. Fourpath Capital Management LLC now owns 5,804 shares of the energy producer’s stock valued at $521,000 after purchasing an additional 201 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 4.5%

NYSE COP opened at $87.83 on Friday. The stock has a fifty day moving average of $94.60 and a 200-day moving average of $92.59. The stock has a market capitalization of $109.70 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 2.44 and a beta of 0.62. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38. 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, topping 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 analysts’ expectations of $14.39 billion. During the same period in the previous year, the firm earned $1.98 earnings per share. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities research 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 paid a dividend of $0.78 per share. 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 3.6%. ConocoPhillips’s payout ratio is 41.88%.

Wall Street Analyst Weigh In

COP has been the subject of several research analyst reports. Barclays cut their price objective on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a research report on Tuesday. Melius Research initiated coverage on ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective for the company. Raymond James Financial cut their price objective on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. JPMorgan Chase & Co. lifted their price objective on ConocoPhillips from $114.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $117.23.

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.