Pure Financial Advisors LLC Buys 1,379 Shares of ConocoPhillips $COP

Pure Financial Advisors LLC grew its stake in shares of ConocoPhillips (NYSE:COP) by 31.6% during the second quarter, Holdings Channel reports. The institutional investor owned 5,745 shares of the energy producer’s stock after purchasing an additional 1,379 shares during the quarter. Pure Financial Advisors LLC’s holdings in ConocoPhillips were worth $516,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tritonpoint Wealth LLC boosted its holdings in shares of ConocoPhillips by 1.3% during the second quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock worth $747,000 after purchasing an additional 110 shares during the period. First National Bank Sioux Falls boosted its holdings in shares of ConocoPhillips by 4.6% during the second quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock worth $231,000 after purchasing an additional 113 shares during the period. KLCM Advisors Inc. boosted its holdings in shares of ConocoPhillips by 2.6% during the first quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock worth $473,000 after purchasing an additional 115 shares during the period. Deseret Mutual Benefit Administrators boosted its holdings in shares of ConocoPhillips by 3.9% during the first quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer’s stock worth $334,000 after purchasing an additional 118 shares during the period. Finally, Oregon Pacific Wealth Management LLC boosted its holdings in shares of ConocoPhillips by 5.8% during the second quarter. Oregon Pacific Wealth Management LLC now owns 2,229 shares of the energy producer’s stock worth $200,000 after purchasing an additional 123 shares during the period. 82.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of ConocoPhillips in a report on Saturday, September 27th. Scotiabank increased their target price on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a report on Friday, July 11th. Roth Capital reiterated a “buy” rating on shares of ConocoPhillips in a report on Wednesday, September 3rd. Mizuho dropped their target price on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Finally, Morgan Stanley restated an “overweight” rating and issued a $123.00 price objective (up from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $120.14.

ConocoPhillips Price Performance

COP stock opened at $94.17 on Friday. The firm has a 50 day moving average price of $94.92 and a 200-day moving average price of $92.91. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08. The firm has a market capitalization of $117.61 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 2.46 and a beta of 0.62. 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 (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 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 firm had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same period last year, the business earned $1.98 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis. Equities research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced 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. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

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.