Global Retirement Partners LLC Purchases Shares of 33,216 ConocoPhillips $COP

Global Retirement Partners LLC purchased a new position in shares of ConocoPhillips (NYSE:COP) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 33,216 shares of the energy producer’s stock, valued at approximately $3,453,000.

Several other hedge funds also recently modified their holdings of the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in ConocoPhillips in the fourth quarter worth approximately $25,000. Strive Asset Management LLC acquired a new position in shares of ConocoPhillips during the third quarter worth approximately $28,000. Frazier Financial Advisors LLC grew its position in ConocoPhillips by 151.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 145 shares during the period. Allied Private Wealth LLC bought a new position in shares of ConocoPhillips in the second quarter valued at $32,000. Finally, BNP Paribas purchased a new stake in shares of ConocoPhillips in the second quarter valued at about $33,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $127.64 on Tuesday. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The company has a 50 day moving average price of $114.05 and a 200-day moving average price of $116.92. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87. The firm has a market capitalization of $153.34 billion, a PE ratio of 16.88, a P/E/G ratio of 1.40 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $18.79 billion. During the same quarter last year, the company posted $1.42 earnings per share. The firm’s quarterly revenue was up 32.4% on a year-over-year basis. As a group, equities research analysts expect that ConocoPhillips will post 10.05 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.36 annualized dividend and a dividend yield of 2.6%. ConocoPhillips’s dividend payout ratio is presently 44.44%.

Analyst Upgrades and Downgrades

Several research analysts have commented on COP shares. Argus raised their target price on ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Freedom Capital raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Susquehanna lifted their price target on shares of ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a report on Tuesday, August 11th. Roth Capital raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and upped their target price for the stock from $124.00 to $130.00 in a research report on Monday, June 22nd. Finally, Raymond James Financial dropped their price target on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $137.48.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.