ConocoPhillips $COP Holdings Boosted by Seamount Financial Group Inc.

Seamount Financial Group Inc. raised its position in shares of ConocoPhillips (NYSE:COP) by 16.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,450 shares of the energy producer’s stock after purchasing an additional 1,307 shares during the quarter. Seamount Financial Group Inc.’s holdings in ConocoPhillips were worth $848,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in ConocoPhillips by 379.7% in 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. Nuveen LLC acquired a new position in shares of ConocoPhillips in the 1st quarter valued at about $658,981,000. AQR Capital Management LLC lifted its position in shares of ConocoPhillips by 190.5% in the first quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock worth $484,539,000 after purchasing an additional 3,058,505 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of ConocoPhillips by 30.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after purchasing an additional 2,080,625 shares during the period. Finally, Deutsche Bank AG grew its position in ConocoPhillips by 53.8% during the first quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer’s stock valued at $550,334,000 after purchasing an additional 1,834,118 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

NYSE COP opened at $94.86 on Tuesday. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08. The stock’s 50-day moving average is $94.88 and its two-hundred day moving average is $92.74. The firm has a market cap of $118.47 billion, a P/E ratio of 12.73, a price-to-earnings-growth ratio of 2.49 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10.

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

ConocoPhillips Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on COP. Melius started coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and set a $123.00 price objective (up from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Citigroup reduced their price objective on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, June 11th. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Finally, Mizuho reduced their price target on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $117.32.

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.