Ethic Inc. Purchases 5,309 Shares of ConocoPhillips $COP

Ethic Inc. boosted its position in ConocoPhillips (NYSE:COP) by 22.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,526 shares of the energy producer’s stock after purchasing an additional 5,309 shares during the quarter. Ethic Inc.’s holdings in ConocoPhillips were worth $2,572,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in COP. Schwartz Investment Counsel Inc. raised its holdings in ConocoPhillips by 159.6% in the 1st 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 in the last quarter. Aberdeen Group plc raised its holdings in ConocoPhillips by 49.3% in the 1st 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. Vanguard Personalized Indexing Management LLC raised its holdings in ConocoPhillips by 17.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer’s stock valued at $13,927,000 after acquiring an additional 22,827 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in ConocoPhillips by 17.7% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 37,361 shares of the energy producer’s stock valued at $3,924,000 after acquiring an additional 5,627 shares in the last quarter. Finally, Lynx Investment Advisory raised its holdings in ConocoPhillips by 316.6% in the 1st quarter. Lynx Investment Advisory now owns 10,769 shares of the energy producer’s stock valued at $1,131,000 after acquiring an additional 8,184 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Price Performance

Shares of COP stock opened at $88.01 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38. The company has a market cap of $109.92 billion, a P/E ratio of 11.81, a P/E/G ratio of 2.40 and a beta of 0.62. The business has a fifty day simple moving average of $93.32 and a 200 day simple moving average of $91.92.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping 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 business had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. During the same period in the prior year, the company earned $1.98 EPS. ConocoPhillips’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced 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 3.5%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio is presently 41.88%.

Wall Street Analyst Weigh In

COP has been the subject of several analyst reports. Mizuho dropped their price objective on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Royal Bank Of Canada lifted their price objective on ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Wells Fargo & Company initiated coverage on ConocoPhillips in a report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 price objective for the company. Capital One Financial lifted their price objective on ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Finally, Roth Capital dropped their price objective on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. Eighteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.63.

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.