ConocoPhillips $COP Stock Position Lifted by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC lifted its holdings in ConocoPhillips (NYSE:COP) by 5.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,117 shares of the energy producer’s stock after purchasing an additional 3,066 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in ConocoPhillips were worth $5,305,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in ConocoPhillips by 379.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after buying an additional 31,736,423 shares in the last quarter. Nuveen LLC bought a new position in ConocoPhillips during the first quarter valued at about $658,981,000. AQR Capital Management LLC boosted its stake in ConocoPhillips by 190.5% during the first quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock valued at $484,539,000 after buying an additional 3,058,505 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in ConocoPhillips by 30.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after buying an additional 2,080,625 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake 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 buying an additional 1,834,118 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on COP shares. Morgan Stanley reaffirmed an “overweight” rating and set a $123.00 target price (up previously from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Melius started coverage on ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price for the company. Susquehanna decreased their target price on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a research note on Wednesday, July 23rd. Roth Capital reaffirmed a “buy” rating on shares of ConocoPhillips in a report on Wednesday, September 3rd. Finally, Mizuho reduced their target price on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Seventeen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $117.65.

ConocoPhillips Trading Up 1.3%

Shares of NYSE COP opened at $88.77 on Tuesday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38. The company has a market cap of $110.87 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 2.33 and a beta of 0.62. 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 business has a fifty day simple moving average of $94.52 and a 200-day simple moving average of $92.35.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data 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. The firm had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.98 EPS. Sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio is currently 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.