Pines Wealth Management LLC Acquires 158 Shares of ConocoPhillips $COP

Pines Wealth Management LLC grew its holdings in ConocoPhillips (NYSE:COP) by 2.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,132 shares of the energy producer’s stock after acquiring an additional 158 shares during the quarter. Pines Wealth Management LLC’s holdings in ConocoPhillips were worth $762,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. 10Elms LLP bought a new stake in shares of ConocoPhillips in the 4th quarter worth approximately $28,000. Financial Network Wealth Advisors LLC raised its stake in shares of ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after buying an additional 222 shares in the last quarter. Stone House Investment Management LLC bought a new position in shares of ConocoPhillips during the 1st quarter worth about $31,000. Garde Capital Inc. bought a new stake in ConocoPhillips in the first quarter valued at about $35,000. Finally, IMA Advisory Services Inc. acquired a new position in ConocoPhillips in the first quarter worth about $37,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 2.3%

NYSE:COP opened at $94.48 on Wednesday. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. The stock has a 50-day moving average price of $94.72 and a two-hundred day moving average price of $92.89. The stock has a market cap of $118.00 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 2.43 and a beta of 0.69. 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 (NYSE:COP) last released its quarterly earnings data 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 business had revenue of $14.94 billion for 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%.ConocoPhillips’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.98 EPS. As a group, equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio is currently 41.88%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on COP shares. Morgan Stanley reiterated an “overweight” rating and issued a $123.00 price target (up from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Roth Capital reaffirmed a “buy” rating on shares of ConocoPhillips in a report on Wednesday, September 3rd. Wells Fargo & Company reissued an “overweight” rating and set a $117.00 price target (up from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Bank of America reduced their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a research report on Friday, May 23rd. Finally, Citigroup dropped their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, June 11th. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $120.62.

ConocoPhillips 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.