ConocoPhillips $COP Shares Bought by Tritonpoint Wealth LLC

Tritonpoint Wealth LLC grew its holdings in shares of ConocoPhillips (NYSE:COP) by 1.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 8,329 shares of the energy producer’s stock after acquiring an additional 110 shares during the quarter. Tritonpoint Wealth LLC’s holdings in ConocoPhillips were worth $747,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Stockman Wealth Management Inc. boosted its position in ConocoPhillips by 5.2% during the 2nd quarter. Stockman Wealth Management Inc. now owns 3,873 shares of the energy producer’s stock worth $348,000 after acquiring an additional 193 shares during the period. Avior Wealth Management LLC boosted its position in ConocoPhillips by 56.7% during the 2nd quarter. Avior Wealth Management LLC now owns 26,794 shares of the energy producer’s stock worth $2,404,000 after acquiring an additional 9,695 shares during the period. Lakewood Asset Management LLC boosted its position in ConocoPhillips by 10.0% during the 2nd quarter. Lakewood Asset Management LLC now owns 44,337 shares of the energy producer’s stock worth $3,979,000 after acquiring an additional 4,035 shares during the period. Chatham Capital Group Inc. boosted its position in ConocoPhillips by 3.0% during the 2nd quarter. Chatham Capital Group Inc. now owns 13,537 shares of the energy producer’s stock worth $1,215,000 after acquiring an additional 400 shares during the period. Finally, LVW Advisors LLC boosted its position in ConocoPhillips by 28.6% during the 2nd quarter. LVW Advisors LLC now owns 3,193 shares of the energy producer’s stock worth $287,000 after acquiring an additional 711 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 1.7%

Shares of ConocoPhillips stock opened at $98.47 on Monday. The stock’s fifty day moving average is $94.85 and its 200-day moving average is $92.99. The firm has a market capitalization of $122.98 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 2.59 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 12-month low of $79.88 and a 12-month high of $116.08.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The company had revenue of $14.94 billion for 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 for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.98 earnings per share. Equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.2%. ConocoPhillips’s payout ratio is currently 41.88%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on COP. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Melius began coverage on ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective on the stock. BMO Capital Markets boosted their price objective on ConocoPhillips from $113.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Raymond James Financial dropped their price objective on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Finally, Royal Bank Of Canada dropped their price objective on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a research note on Friday, July 11th. Sixteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $120.14.

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.