ConocoPhillips $COP Shares Acquired by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. boosted its stake in ConocoPhillips (NYSE:COP) by 30.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,385 shares of the energy producer’s stock after buying an additional 1,033 shares during the quarter. Goelzer Investment Management Inc.’s holdings in ConocoPhillips were worth $394,000 at the end of the most recent reporting period.

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

ConocoPhillips Stock Performance

NYSE:COP opened at $93.81 on Thursday. The company has a fifty day simple moving average of $94.70 and a two-hundred day simple moving average of $92.89. The company has a market cap of $117.16 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 2.49 and a beta of 0.69. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. The firm had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.ConocoPhillips’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the business posted $1.98 earnings per share. As a group, equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company 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. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio is presently 41.88%.

Analyst Ratings Changes

COP has been the topic of several research reports. Mizuho decreased their price target on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday. Melius started coverage on ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target for the company. Raymond James Financial dropped their price target on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. Citigroup lowered their price objective on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, June 11th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Sixteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $120.62.

About ConocoPhillips

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.