ConocoPhillips $COP Shares Purchased by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC increased its stake in shares of ConocoPhillips (NYSE:COP) by 41.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 6,773 shares of the energy producer’s stock after acquiring an additional 2,001 shares during the period. Premier Path Wealth Partners LLC’s holdings in ConocoPhillips were worth $608,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COP. Charles Schwab Investment Management Inc. lifted 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 acquiring an additional 31,736,423 shares in the last quarter. Nuveen LLC acquired a new position in ConocoPhillips during the 1st quarter worth approximately $658,981,000. AQR Capital Management LLC lifted its position in ConocoPhillips by 190.5% during the 1st quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock worth $484,539,000 after acquiring an additional 3,058,505 shares in the last quarter. Goldman Sachs Group Inc. lifted 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 acquiring an additional 2,080,625 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in ConocoPhillips by 53.8% during the 1st quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer’s stock worth $550,334,000 after acquiring an additional 1,834,118 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 0.0%

Shares of NYSE:COP opened at $88.11 on Friday. The stock has a market capitalization of $110.04 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 2.36 and a beta of 0.62. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38. The company’s fifty day moving average is $92.81 and its two-hundred day moving average is $91.97. 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 issued its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. During the same period in the prior year, the company earned $1.98 earnings per share. The firm’s revenue was up 4.3% compared to the same quarter last year. Equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a $0.78 dividend. 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%.

Analyst Upgrades and Downgrades

COP has been the subject of several research analyst reports. Barclays reduced their target price on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Wells Fargo & Company initiated coverage on ConocoPhillips in a research note on Friday, October 17th. They set an “equal weight” rating and a $100.00 target price for the company. Raymond James Financial reduced 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. BMO Capital Markets increased their target price on ConocoPhillips from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Finally, Evercore ISI reduced their target price on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research note on Monday, October 6th. Eighteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $115.63.

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.