ConocoPhillips $COP Shares Bought by NorthRock Partners LLC

NorthRock Partners LLC grew its stake in shares of ConocoPhillips (NYSE:COP) by 17.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,861 shares of the energy producer’s stock after acquiring an additional 2,409 shares during the quarter. NorthRock Partners LLC’s holdings in ConocoPhillips were worth $1,424,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in ConocoPhillips by 379.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after purchasing an additional 31,736,423 shares in the last quarter. Wellington Management Group LLP increased its position in ConocoPhillips by 1.4% during the 1st 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 in the last quarter. Goldman Sachs Group Inc. increased its position in ConocoPhillips by 30.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after purchasing an additional 2,080,625 shares in the last quarter. Ameriprise Financial Inc. increased its position in ConocoPhillips by 15.1% during the 1st quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock worth $861,490,000 after purchasing an additional 1,073,906 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in ConocoPhillips during the 1st quarter worth approximately $658,981,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on COP. Barclays lowered their price objective on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Jefferies Financial Group lowered their price objective on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a research report on Monday. Scotiabank increased their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Mizuho lowered their price objective on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Finally, Roth Capital reaffirmed a “buy” rating on shares of ConocoPhillips in a research report on Wednesday, September 3rd. Seventeen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $117.65.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $88.77 on Tuesday. The stock has a market cap of $110.87 billion, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 2.33 and a beta of 0.62. 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 stock has a 50 day moving average of $94.52 and a 200-day moving average of $92.35. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38.

ConocoPhillips (NYSE:COP) last released 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 analysts’ expectations of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.98 EPS. On average, analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio 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.