Avidian Wealth Enterprises LLC Has $1.83 Million Position in ConocoPhillips $COP

Avidian Wealth Enterprises LLC grew its position in ConocoPhillips (NYSE:COP) by 8.2% in the second quarter, HoldingsChannel.com reports. The fund owned 20,373 shares of the energy producer’s stock after buying an additional 1,544 shares during the period. Avidian Wealth Enterprises LLC’s holdings in ConocoPhillips were worth $1,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Financial Network Wealth Advisors LLC boosted its stake in shares of ConocoPhillips by 341.5% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after acquiring an additional 222 shares during the period. Stone House Investment Management LLC bought a new stake in ConocoPhillips in the 1st quarter valued at $31,000. Bogart Wealth LLC raised its stake in ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after acquiring an additional 182 shares during the period. Activest Wealth Management lifted its holdings in ConocoPhillips by 249.5% during the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 232 shares during the last quarter. Finally, IMA Advisory Services Inc. bought a new position in ConocoPhillips during the first quarter worth $37,000. 82.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on COP. Royal Bank Of Canada increased their price objective on shares of ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Scotiabank upped their price target on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research note on Friday, July 11th. The Goldman Sachs Group cut their price objective on shares of ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, October 17th. Wells Fargo & Company initiated coverage on ConocoPhillips in a report on Friday, October 17th. They set an “equal weight” rating and a $100.00 price objective for the company. Finally, Roth Capital lowered their target price on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 15th. Eighteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $115.63.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $86.39 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $107.90 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 2.30 and a beta of 0.62. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38. The company has a 50-day simple moving average of $93.75 and a two-hundred day simple moving average of $91.88.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $14.39 billion. During the same period last year, the firm earned $1.98 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

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

About ConocoPhillips

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.