Signature Wealth Management Partners LLC Buys New Shares in ConocoPhillips $COP

Signature Wealth Management Partners LLC bought a new stake in shares of ConocoPhillips (NYSE:COP) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 3,451 shares of the energy producer’s stock, valued at approximately $310,000.

Several other large investors have also recently bought and sold shares of COP. Tritonpoint Wealth LLC grew its stake in shares of ConocoPhillips by 1.3% in the second quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock valued at $747,000 after buying an additional 110 shares in the last quarter. First National Bank Sioux Falls grew its stake in shares of ConocoPhillips by 4.6% in the second quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock valued at $231,000 after buying an additional 113 shares in the last quarter. KLCM Advisors Inc. lifted its holdings in ConocoPhillips by 2.6% during the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock valued at $473,000 after purchasing an additional 115 shares during the last quarter. Fairvoy Private Wealth LLC lifted its holdings in ConocoPhillips by 3.5% during the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock valued at $314,000 after purchasing an additional 117 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators lifted its holdings in ConocoPhillips by 3.9% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer’s stock valued at $334,000 after purchasing an additional 118 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on COP shares. Citigroup cut their price target on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, June 11th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Melius started coverage on ConocoPhillips in a report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target for the company. Raymond James Financial cut their price target on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, September 8th. Finally, Scotiabank raised their price target on ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a report on Friday, July 11th. Sixteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $120.14.

ConocoPhillips Stock Up 0.8%

COP opened at $94.17 on Friday. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The company has a market capitalization of $117.61 billion, a P/E ratio of 12.64, a P/E/G ratio of 2.46 and a beta of 0.62. The stock has a fifty day moving average of $94.92 and a 200-day moving average of $92.91.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter last year, the firm earned $1.98 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. On average, equities analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

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

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.