Canopy Partners LLC Increases Position in ConocoPhillips $COP

Canopy Partners LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 3.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,065 shares of the energy producer’s stock after buying an additional 249 shares during the period. Canopy Partners LLC’s holdings in ConocoPhillips were worth $634,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of COP. Financial Network Wealth Advisors LLC boosted its stake in shares of ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 222 shares during the period. Stone House Investment Management LLC purchased a new stake in ConocoPhillips in the 1st quarter valued at about $31,000. Garde Capital Inc. purchased a new stake in ConocoPhillips in the 1st quarter valued at about $35,000. IMA Advisory Services Inc. purchased a new stake in ConocoPhillips in the 1st quarter valued at about $37,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of ConocoPhillips by 418.6% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock valued at $38,000 after purchasing an additional 293 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 0.3%

Shares of NYSE COP opened at $95.18 on Wednesday. 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 stock has a market capitalization of $118.87 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 2.51 and a beta of 0.62. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38. The business has a fifty day moving average price of $94.83 and a 200 day moving average price of $92.75.

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

ConocoPhillips Dividend Announcement

The firm also recently disclosed 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 is currently 41.88%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on COP. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Barclays lowered their target price on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a report on Tuesday. Capital One Financial upped their price objective on shares of ConocoPhillips from $111.00 to $112.00 in a research note on Friday, October 3rd. Scotiabank upped their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a research note on Friday, July 11th. Finally, Susquehanna lowered their price objective on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a research note on Wednesday, July 23rd. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $117.23.

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.