Canopy Partners LLC Grows Stock Position in ConocoPhillips $COP

Canopy Partners LLC grew its holdings in shares of ConocoPhillips (NYSE:COP) by 3.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,065 shares of the energy producer’s stock after purchasing an additional 249 shares during the quarter. Canopy Partners LLC’s holdings in ConocoPhillips were worth $634,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in COP. Daymark Wealth Partners LLC increased its holdings in ConocoPhillips by 4.6% in the 1st quarter. Daymark Wealth Partners LLC now owns 12,192 shares of the energy producer’s stock worth $1,280,000 after acquiring an additional 539 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of ConocoPhillips by 84.5% in the first quarter. Farther Finance Advisors LLC now owns 27,236 shares of the energy producer’s stock worth $2,870,000 after purchasing an additional 12,477 shares in the last quarter. Pallas Capital Advisors LLC increased its stake in ConocoPhillips by 226.8% in the 1st quarter. Pallas Capital Advisors LLC now owns 31,493 shares of the energy producer’s stock worth $3,307,000 after buying an additional 21,855 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in ConocoPhillips by 1,364.3% in the 1st quarter. Harbor Capital Advisors Inc. now owns 26,211 shares of the energy producer’s stock worth $2,753,000 after buying an additional 24,421 shares in the last quarter. Finally, Cardinal Capital Management Inc. increased its stake in ConocoPhillips by 28.9% in the 1st quarter. Cardinal Capital Management Inc. now owns 127,718 shares of the energy producer’s stock worth $13,413,000 after buying an additional 28,645 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $95.18 on Wednesday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38. The stock has a market capitalization of $118.87 billion, a P/E ratio of 12.78, a PEG ratio of 2.51 and a beta of 0.62. The firm has a fifty day simple moving average of $94.83 and a two-hundred day simple moving average of $92.75. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The business had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the company posted $1.98 EPS. On average, analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on COP. Weiss Ratings reiterated a “hold (c-)” rating on shares of ConocoPhillips in a research report on Saturday, September 27th. Scotiabank increased their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a report on Friday, July 11th. Mizuho cut their price objective on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Evercore ISI cut their target price on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research note on Monday. Finally, UBS Group raised their target price on shares of ConocoPhillips from $116.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.23.

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.