Apollon Wealth Management LLC Raises Stock Position in ConocoPhillips $COP

Apollon Wealth Management LLC grew its holdings in ConocoPhillips (NYSE:COP) by 6.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,319 shares of the energy producer’s stock after acquiring an additional 1,874 shares during the period. Apollon Wealth Management LLC’s holdings in ConocoPhillips were worth $2,631,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in COP. Financial Network Wealth Advisors LLC raised its stake in shares of ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after acquiring an additional 222 shares during the period. Stone House Investment Management LLC purchased a new position in shares of ConocoPhillips in the 1st quarter valued at $31,000. Garde Capital Inc. purchased a new position in shares of ConocoPhillips in the 1st quarter valued at $35,000. IMA Advisory Services Inc. purchased a new position in shares of ConocoPhillips in the 1st quarter valued at $37,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its stake in shares of ConocoPhillips by 418.6% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock valued at $38,000 after acquiring an additional 293 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP opened at $87.83 on Monday. The company has a 50-day moving average of $94.60 and a 200-day moving average of $92.44. The company has a market capitalization of $109.70 billion, a P/E ratio of 11.79, a PEG ratio of 2.33 and a beta of 0.62. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. The company had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.98 EPS. Equities analysts expect that ConocoPhillips will post 8.16 EPS 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 issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.6%. ConocoPhillips’s payout ratio is 41.88%.

Analyst Upgrades and Downgrades

COP has been the topic of several analyst reports. Scotiabank lifted their price target on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a research note on Friday, July 11th. BMO Capital Markets lifted their price target on shares of ConocoPhillips from $113.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Melius initiated coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target on the stock. Jefferies Financial Group set a $124.00 price target on shares of ConocoPhillips in a research note on Sunday. Finally, Susquehanna dropped their price target on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research note on Wednesday, July 23rd. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $117.52.

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.