Wealth Alliance Advisory Group LLC Has $2.09 Million Holdings in ConocoPhillips (NYSE:COP)

Wealth Alliance Advisory Group LLC increased its position in shares of ConocoPhillips (NYSE:COP) by 7.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,884 shares of the energy producer’s stock after acquiring an additional 1,423 shares during the quarter. Wealth Alliance Advisory Group LLC’s holdings in ConocoPhillips were worth $2,088,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in ConocoPhillips by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after buying an additional 12,751,120 shares during the period. Price T Rowe Associates Inc. MD increased its stake in ConocoPhillips by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock valued at $4,546,706,000 after buying an additional 5,549,078 shares during the period. Capital International Investors increased its stake in ConocoPhillips by 4.9% in the 4th quarter. Capital International Investors now owns 31,287,113 shares of the energy producer’s stock valued at $3,101,989,000 after buying an additional 1,473,027 shares during the period. Geode Capital Management LLC increased its stake in ConocoPhillips by 13.7% in the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock valued at $2,792,521,000 after buying an additional 3,397,360 shares during the period. Finally, Invesco Ltd. increased its stake in ConocoPhillips by 37.1% in the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock valued at $1,544,101,000 after buying an additional 4,211,939 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on COP shares. Barclays dropped their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Mizuho dropped their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Bank of America dropped their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Morgan Stanley upped their price objective on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Finally, Susquehanna decreased their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a research report on Monday, May 12th. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $121.63.

ConocoPhillips Price Performance

NYSE COP opened at $87.92 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company has a fifty day simple moving average of $89.83 and a 200 day simple moving average of $96.99. The company has a market cap of $111.15 billion, a P/E ratio of 11.29, a P/E/G ratio of 0.79 and a beta of 0.64. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $118.40.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. The business had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same period in the prior year, the firm earned $2.05 EPS. On average, sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s dividend payout ratio is currently 39.64%.

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.