West Michigan Advisors LLC Has $368,000 Holdings in ConocoPhillips $COP

West Michigan Advisors LLC grew its stake in ConocoPhillips (NYSE:COP) by 14.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 4,102 shares of the energy producer’s stock after buying an additional 514 shares during the quarter. West Michigan Advisors LLC’s holdings in ConocoPhillips were worth $368,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tritonpoint Wealth LLC raised its holdings in ConocoPhillips by 1.3% during the second quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock worth $747,000 after acquiring an additional 110 shares in the last quarter. Iowa State Bank raised its holdings in ConocoPhillips by 0.5% during the second quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock worth $1,992,000 after acquiring an additional 110 shares in the last quarter. First National Bank Sioux Falls increased its position in ConocoPhillips by 4.6% during the second quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock worth $231,000 after buying an additional 113 shares during the last quarter. KLCM Advisors Inc. increased its position in ConocoPhillips by 2.6% during the first quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock worth $473,000 after buying an additional 115 shares during the last quarter. Finally, Fairvoy Private Wealth LLC increased its position in ConocoPhillips by 3.5% during the second quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock worth $314,000 after buying an additional 117 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 2.3%

Shares of NYSE:COP opened at $88.01 on Friday. The company has a market capitalization 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. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. 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 business’s 50 day simple moving average is $93.32 and its 200 day simple moving average is $91.92.

ConocoPhillips (NYSE:COP) last released its earnings results 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 firm had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. During the same period in the prior year, the company earned $1.98 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. On average, research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.5%. ConocoPhillips’s dividend payout ratio is presently 41.88%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Morgan Stanley lowered their price target on ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 14th. Capital One Financial boosted their price target on ConocoPhillips from $111.00 to $112.00 in a research report on Friday, October 3rd. Melius began coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target on the stock. Weiss Ratings downgraded ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. Finally, Wells Fargo & Company began coverage on ConocoPhillips in a research report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 target price on the stock. Eighteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $115.63.

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.