LRI Investments LLC Boosts Stock Position in ConocoPhillips $COP

LRI Investments LLC boosted its holdings in ConocoPhillips (NYSE:COP) by 15.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,966 shares of the energy producer’s stock after buying an additional 399 shares during the quarter. LRI Investments LLC’s holdings in ConocoPhillips were worth $266,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. SPC Financial Inc. increased its stake in ConocoPhillips by 5.3% in the second quarter. SPC Financial Inc. now owns 4,769 shares of the energy producer’s stock valued at $428,000 after purchasing an additional 239 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in ConocoPhillips by 17.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer’s stock valued at $13,927,000 after purchasing an additional 22,827 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in shares of ConocoPhillips by 11.5% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 69,265 shares of the energy producer’s stock valued at $6,216,000 after buying an additional 7,163 shares during the last quarter. Apollon Wealth Management LLC grew its position in shares of ConocoPhillips by 6.8% in the 2nd quarter. Apollon Wealth Management LLC now owns 29,319 shares of the energy producer’s stock valued at $2,631,000 after buying an additional 1,874 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its position in shares of ConocoPhillips by 10.9% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 21,650 shares of the energy producer’s stock valued at $1,943,000 after buying an additional 2,129 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the topic of several research reports. BMO Capital Markets raised their price objective on ConocoPhillips from $113.00 to $115.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Barclays dropped their price target on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Jefferies Financial Group set a $124.00 price target on ConocoPhillips in a research note on Sunday. Morgan Stanley restated an “overweight” rating and set a $123.00 target price (up from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Finally, Melius Research began coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price on the stock. Sixteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $117.52.

ConocoPhillips Trading Down 4.5%

Shares of COP stock opened at $87.83 on Monday. The business’s 50 day moving average is $94.60 and its two-hundred day moving average is $92.44. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $109.70 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 2.33 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data 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 firm 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 posted $1.98 EPS. ConocoPhillips’s quarterly revenue was up 4.3% on a year-over-year basis. Equities analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s payout ratio is currently 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.