Turtle Creek Wealth Advisors LLC Purchases 764 Shares of ConocoPhillips $COP

Turtle Creek Wealth Advisors LLC raised its position in ConocoPhillips (NYSE:COP) by 5.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 14,502 shares of the energy producer’s stock after buying an additional 764 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in ConocoPhillips were worth $1,301,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Financial Network Wealth Advisors LLC boosted its position in ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after buying an additional 222 shares during the last quarter. Stone House Investment Management LLC bought a new position in shares of ConocoPhillips in the 1st quarter worth $31,000. Garde Capital Inc. bought a new position in shares of ConocoPhillips in the 1st quarter worth $35,000. IMA Advisory Services Inc. bought a new position in shares of ConocoPhillips in the 1st quarter worth $37,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its position in shares of ConocoPhillips by 418.6% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock worth $38,000 after purchasing an additional 293 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

COP opened at $87.67 on Thursday. The business’s 50-day moving average price is $94.31 and its two-hundred day moving average price is $92.29. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. The company has a market capitalization of $109.49 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 2.36 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10.

ConocoPhillips (NYSE:COP) last released its quarterly 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 return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter last year, the business posted $1.98 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.6%. ConocoPhillips’s dividend payout ratio (DPR) is currently 41.88%.

Analysts Set New Price Targets

Several research firms have recently issued reports on COP. Royal Bank Of Canada raised their price target on ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Monday. Scotiabank lifted their target price on ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a report on Friday, July 11th. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. BMO Capital Markets lifted their target price on ConocoPhillips from $115.00 to $117.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Capital One Financial lifted their target price on ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Seventeen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $116.78.

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.