ConocoPhillips $COP Shares Acquired by Tower View Wealth Management LLC

Tower View Wealth Management LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 298.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,895 shares of the energy producer’s stock after buying an additional 1,419 shares during the period. Tower View Wealth Management LLC’s holdings in ConocoPhillips were worth $170,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its position in shares of ConocoPhillips by 379.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after acquiring an additional 31,736,423 shares in the last quarter. Wellington Management Group LLP raised its position in shares of ConocoPhillips by 1.4% during the 1st quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock worth $3,319,746,000 after acquiring an additional 437,709 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of ConocoPhillips by 30.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after acquiring an additional 2,080,625 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of ConocoPhillips by 15.1% during the 1st quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock worth $861,490,000 after acquiring an additional 1,073,906 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of ConocoPhillips during the 1st quarter worth about $658,981,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on COP. Raymond James Financial cut their target price on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. Susquehanna dropped their price target on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research note on Wednesday, July 23rd. Royal Bank Of Canada dropped their price target on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a research note on Friday, July 11th. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Finally, Melius Research started coverage on ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target on the stock. Sixteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $120.14.

ConocoPhillips Trading Down 2.1%

Shares of COP stock opened at $93.45 on Friday. The business’s 50 day moving average is $94.94 and its two-hundred day moving average is $92.96. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08. The company has a market capitalization of $116.71 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 2.51 and a beta of 0.62. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating 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 company had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same period last year, the business posted $1.98 EPS. The company’s revenue was up 4.3% on a year-over-year basis. Equities analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is 41.88%.

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.