PDS Planning Inc Acquires 764 Shares of ConocoPhillips $COP

PDS Planning Inc grew its holdings in shares of ConocoPhillips (NYSE:COP) by 7.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 11,585 shares of the energy producer’s stock after buying an additional 764 shares during the period. PDS Planning Inc’s holdings in ConocoPhillips were worth $1,040,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Blue Trust Inc. grew its stake in shares of ConocoPhillips by 1.3% during the second quarter. Blue Trust Inc. now owns 20,754 shares of the energy producer’s stock valued at $1,863,000 after buying an additional 276 shares during the last quarter. Fourpath Capital Management LLC grew its stake in shares of ConocoPhillips by 3.6% during the second quarter. Fourpath Capital Management LLC now owns 5,804 shares of the energy producer’s stock valued at $521,000 after buying an additional 201 shares during the last quarter. Robertson Stephens Wealth Management LLC boosted its holdings in shares of ConocoPhillips by 8.8% in the second quarter. Robertson Stephens Wealth Management LLC now owns 6,288 shares of the energy producer’s stock valued at $564,000 after purchasing an additional 507 shares during the period. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of ConocoPhillips by 7.2% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 40,994 shares of the energy producer’s stock valued at $3,679,000 after purchasing an additional 2,746 shares during the period. Finally, Stiles Financial Services Inc boosted its holdings in shares of ConocoPhillips by 3.7% in the second quarter. Stiles Financial Services Inc now owns 5,241 shares of the energy producer’s stock valued at $470,000 after purchasing an additional 186 shares during the period. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Barclays lowered their price target on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a report on Tuesday. Capital One Financial boosted their price target on ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Royal Bank Of Canada lowered their price target on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating for the company in a report on Friday, July 11th. Susquehanna lowered their price target on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a report on Wednesday, July 23rd. Finally, Raymond James Financial lowered their price target on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, September 8th. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $117.23.

ConocoPhillips Stock Down 4.5%

ConocoPhillips stock opened at $87.83 on Friday. The business has a fifty day moving average of $94.60 and a two-hundred day moving average of $92.59. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The firm has a market cap of $109.70 billion, a P/E ratio of 11.79, a P/E/G ratio of 2.44 and a beta of 0.62. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38.

ConocoPhillips (NYSE:COP) last posted its earnings results 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. The company had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.ConocoPhillips’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.98 earnings per share. On average, analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared 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 presently 41.88%.

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.