ConocoPhillips $COP Shares Purchased by Wealth Management Associates Inc.

Wealth Management Associates Inc. boosted its holdings in ConocoPhillips (NYSE:COP) by 44.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,714 shares of the energy producer’s stock after acquiring an additional 2,666 shares during the period. Wealth Management Associates Inc.’s holdings in ConocoPhillips were worth $782,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its holdings in ConocoPhillips by 379.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after acquiring an additional 31,736,423 shares during the last quarter. Wellington Management Group LLP lifted its holdings in ConocoPhillips by 1.4% in the first quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock valued at $3,319,746,000 after acquiring an additional 437,709 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in ConocoPhillips by 30.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after acquiring an additional 2,080,625 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in ConocoPhillips by 15.1% in the first quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock valued at $861,490,000 after acquiring an additional 1,073,906 shares during the last quarter. Finally, Nuveen LLC acquired a new position in ConocoPhillips in the first quarter valued at approximately $658,981,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 2.1%

ConocoPhillips stock opened at $86.86 on Wednesday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38. The stock’s fifty day simple moving average is $93.08 and its 200-day simple moving average is $91.99. 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 firm has a market capitalization of $108.49 billion, a P/E ratio of 11.66, a P/E/G ratio of 2.37 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, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the prior year, the company earned $1.98 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. As a group, equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Scotiabank upped their price target on ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a research note on Friday, July 11th. Evercore ISI dropped their price objective on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research note on Monday, October 6th. Weiss Ratings lowered ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 24th. Wells Fargo & Company initiated coverage on ConocoPhillips in a research note on Friday, October 17th. They set an “equal weight” rating and a $100.00 target price on the stock. Finally, The Goldman Sachs Group decreased their target price on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, October 17th. Eighteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $115.63.

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.