Freedom Investment Management Inc. Has $791,000 Stock Position in ConocoPhillips $COP

Freedom Investment Management Inc. lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 11.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,817 shares of the energy producer’s stock after buying an additional 885 shares during the period. Freedom Investment Management Inc.’s holdings in ConocoPhillips were worth $791,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of COP. Financial Network Wealth Advisors LLC raised its position 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 during the last quarter. Stone House Investment Management LLC bought a new position in ConocoPhillips in the first quarter valued at about $31,000. Bogart Wealth LLC raised its position in ConocoPhillips by 136.8% in the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after purchasing an additional 182 shares during the last quarter. Activest Wealth Management raised its position in ConocoPhillips by 249.5% in the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 232 shares during the last quarter. Finally, IMA Advisory Services Inc. bought a new position in ConocoPhillips in the first quarter valued at about $37,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of several research reports. Jefferies Financial Group dropped their target price on ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Wells Fargo & Company initiated coverage on ConocoPhillips in a research report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 target price for the company. Melius Research initiated 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. Capital One Financial increased their target price on ConocoPhillips from $111.00 to $112.00 in a research report on Friday, October 3rd. Finally, Susquehanna decreased their price target on ConocoPhillips to $113.00 and set a “positive” rating for the company in a research note on Monday. Eighteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $115.63.

ConocoPhillips Trading Down 2.3%

Shares of COP stock opened at $88.01 on Friday. The stock has a market cap of $109.92 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 2.40 and a beta of 0.62. The stock has a 50-day moving average of $93.32 and a 200-day moving average of $91.92. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38.

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. 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 quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.98 earnings per share. On average, equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 3.5%. ConocoPhillips’s dividend payout ratio (DPR) is currently 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.