Opal Wealth Advisors LLC Has $272,000 Holdings in ConocoPhillips $COP

Opal Wealth Advisors LLC increased its stake in shares of ConocoPhillips (NYSE:COP) by 10.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,033 shares of the energy producer’s stock after buying an additional 279 shares during the quarter. Opal Wealth Advisors LLC’s holdings in ConocoPhillips were worth $272,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of COP. Leonard Rickey Investment Advisors P.L.L.C. increased its position in shares of ConocoPhillips by 8.1% during the 2nd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,071 shares of the energy producer’s stock worth $455,000 after purchasing an additional 379 shares in the last quarter. Gries Financial LLC increased its holdings in shares of ConocoPhillips by 12.0% during the second quarter. Gries Financial LLC now owns 5,691 shares of the energy producer’s stock worth $511,000 after buying an additional 609 shares in the last quarter. Golden State Equity Partners raised its stake in shares of ConocoPhillips by 14.8% in the second quarter. Golden State Equity Partners now owns 14,754 shares of the energy producer’s stock valued at $1,324,000 after acquiring an additional 1,899 shares during the last quarter. Brady Martz Wealth Solutions LLC raised its stake in shares of ConocoPhillips by 14.8% in the second quarter. Brady Martz Wealth Solutions LLC now owns 9,519 shares of the energy producer’s stock valued at $854,000 after acquiring an additional 1,229 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of ConocoPhillips in the 2nd quarter worth approximately $211,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of COP stock opened at $93.40 on Wednesday. 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 has a 52 week low of $79.88 and a 52 week high of $116.08. The company’s 50 day moving average price is $94.56 and its two-hundred day moving average price is $92.98. The company has a market capitalization of $116.65 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 2.42 and a beta of 0.69.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results 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. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. During the same quarter in the prior year, the company earned $1.98 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Roth Capital restated a “buy” rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. Mizuho cut their price target on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. BMO Capital Markets lifted their price objective on shares of ConocoPhillips from $113.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday. Morgan Stanley reiterated an “overweight” rating and issued a $123.00 target price (up from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Finally, Melius Research started coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target for the company. Sixteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.14.

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.