HCR Wealth Advisors Acquires 420 Shares of ConocoPhillips (NYSE:COP)

HCR Wealth Advisors grew its stake in shares of ConocoPhillips (NYSE:COP) by 1.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 30,455 shares of the energy producer’s stock after purchasing an additional 420 shares during the period. HCR Wealth Advisors’ holdings in ConocoPhillips were worth $1,250,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Pearl River Capital LLC purchased a new position in shares of ConocoPhillips during the first quarter valued at approximately $26,000. Bay Harbor Wealth Management LLC boosted its holdings in ConocoPhillips by 3,096.2% during the first quarter. Bay Harbor Wealth Management LLC now owns 831 shares of the energy producer’s stock worth $26,000 after purchasing an additional 805 shares during the last quarter. Lenox Wealth Advisors LLC grew its position in ConocoPhillips by 2,105.6% in the 2nd quarter. Lenox Wealth Advisors LLC now owns 794 shares of the energy producer’s stock worth $33,000 after purchasing an additional 758 shares in the last quarter. Capital Advisory Group Advisory Services LLC bought a new stake in ConocoPhillips in the 1st quarter worth about $34,000. Finally, Capital Square LLC purchased a new stake in ConocoPhillips in the 1st quarter valued at about $38,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently commented on the company. Royal Bank of Canada reaffirmed a “buy” rating on shares of ConocoPhillips in a research report on Monday, July 6th. Argus raised their target price on ConocoPhillips from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Mizuho boosted their price target on shares of ConocoPhillips from $37.00 to $46.00 in a report on Friday, June 19th. MKM Partners raised their price objective on shares of ConocoPhillips from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Bank of America lowered shares of ConocoPhillips from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $43.00 to $46.00 in a research report on Friday, May 1st. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. ConocoPhillips presently has an average rating of “Buy” and a consensus target price of $56.25.

Shares of COP stock traded down $0.25 during trading hours on Friday, reaching $37.39. The stock had a trading volume of 7,721,107 shares, compared to its average volume of 6,250,089. The stock’s fifty day simple moving average is $41.34 and its 200 day simple moving average is $44.25. The firm has a market capitalization of $40.37 billion, a PE ratio of 18.42 and a beta of 1.69. ConocoPhillips has a 12 month low of $20.84 and a 12 month high of $67.13. The company has a current ratio of 2.69, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, July 30th. The energy producer reported ($0.92) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.58) by ($0.34). ConocoPhillips had a return on equity of 3.72% and a net margin of 8.49%. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.19 billion. During the same period last year, the company posted $1.01 EPS. As a group, equities research analysts anticipate that ConocoPhillips will post -0.32 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, July 20th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, July 17th. This represents a $1.68 annualized dividend and a dividend yield of 4.49%. ConocoPhillips’s payout ratio is currently 46.80%.

In other ConocoPhillips news, Director David Thomas Seaton acquired 2,400 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average price of $41.03 per share, with a total value of $98,472.00. Following the completion of the purchase, the director now owns 2,500 shares of the company’s stock, valued at $102,575. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.70% of the company’s stock.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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