Avidian Wealth Enterprises LLC Buys 1,544 Shares of ConocoPhillips $COP

Avidian Wealth Enterprises LLC grew its stake in ConocoPhillips (NYSE:COP) by 8.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,373 shares of the energy producer’s stock after acquiring an additional 1,544 shares during the period. Avidian Wealth Enterprises LLC’s holdings in ConocoPhillips were worth $1,828,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale lifted its position in ConocoPhillips by 10.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 2,028,920 shares of the energy producer’s stock valued at $183,466,000 after purchasing an additional 188,885 shares during the period. Journey Advisory Group LLC increased its position in shares of ConocoPhillips by 18.9% in the 2nd quarter. Journey Advisory Group LLC now owns 7,837 shares of the energy producer’s stock valued at $703,000 after buying an additional 1,247 shares in the last quarter. Bogart Wealth LLC increased its holdings in shares of ConocoPhillips by 136.8% in the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after acquiring an additional 182 shares in the last quarter. Accretive Wealth Partners LLC lifted its holdings in shares of ConocoPhillips by 2.4% during the 2nd quarter. Accretive Wealth Partners LLC now owns 16,391 shares of the energy producer’s stock valued at $1,471,000 after purchasing an additional 378 shares in the last quarter. Finally, Unison Advisors LLC grew its position in shares of ConocoPhillips by 0.9% in the 2nd quarter. Unison Advisors LLC now owns 17,428 shares of the energy producer’s stock valued at $1,564,000 after purchasing an additional 157 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the topic of a number of research reports. Morgan Stanley cut their price target on shares of ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 14th. JPMorgan Chase & Co. raised their price objective on shares of ConocoPhillips from $114.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, October 9th. Capital One Financial upped their target price on shares of ConocoPhillips from $111.00 to $112.00 in a research note on Friday, October 3rd. Barclays dropped their price target on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Finally, Susquehanna reduced their price objective on ConocoPhillips to $113.00 and set a “positive” rating for the company in a research report on Monday. Eighteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $115.63.

ConocoPhillips Stock Down 0.8%

Shares of COP stock opened at $86.39 on Wednesday. The firm’s fifty day moving average price is $93.75 and its two-hundred day moving average price is $91.88. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. The firm has a market capitalization of $107.90 billion, a P/E ratio of 11.60, a PEG ratio of 2.30 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last posted 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 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 quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.98 EPS. On average, equities analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is currently 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.