Tyche Wealth Partners LLC Has $736,000 Stock Holdings in ConocoPhillips $COP

Tyche Wealth Partners LLC grew its stake in shares of ConocoPhillips (NYSE:COP) by 5.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 8,204 shares of the energy producer’s stock after buying an additional 439 shares during the quarter. Tyche Wealth Partners LLC’s holdings in ConocoPhillips were worth $736,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Elevation Point Wealth Partners LLC increased its position in ConocoPhillips by 83.0% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer’s stock valued at $1,897,000 after buying an additional 8,189 shares in the last quarter. Schwartz Investment Counsel Inc. grew its stake in ConocoPhillips by 159.6% in the first quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer’s stock valued at $5,125,000 after acquiring an additional 30,000 shares during the period. Aberdeen Group plc increased its holdings in shares of ConocoPhillips by 49.3% during the first quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock valued at $83,969,000 after acquiring an additional 264,726 shares in the last quarter. ORG Wealth Partners LLC increased its holdings in shares of ConocoPhillips by 853.3% during the first quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer’s stock valued at $698,000 after acquiring an additional 5,922 shares in the last quarter. Finally, Hennessy Advisors Inc. raised its position in shares of ConocoPhillips by 151.1% during the first quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer’s stock worth $9,580,000 after purchasing an additional 54,900 shares during the period. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the subject of several research reports. BMO Capital Markets lifted their price target on shares of ConocoPhillips from $113.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ConocoPhillips in a research note on Saturday, September 27th. Melius began coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective for the company. Capital One Financial upped their target price on shares of ConocoPhillips from $111.00 to $112.00 in a report on Friday. Finally, Susquehanna dropped their price target on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research report on Wednesday, July 23rd. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $117.32.

ConocoPhillips Stock Performance

NYSE COP opened at $94.86 on Tuesday. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The firm has a market cap of $118.47 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 2.49 and a beta of 0.62. The company has a fifty day moving average price of $94.88 and a 200-day moving average price of $92.74.

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 analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $14.39 billion. During the same period last year, the firm earned $1.98 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. As a group, equities research analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a dividend of $0.78 per share. 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%.

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.