Phoenix Financial Ltd. Increases Position in ConocoPhillips $COP

Phoenix Financial Ltd. raised its holdings in shares of ConocoPhillips (NYSE:COP) by 3.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 13,040 shares of the energy producer’s stock after purchasing an additional 491 shares during the quarter. Phoenix Financial Ltd.’s holdings in ConocoPhillips were worth $1,170,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Bogart Wealth LLC boosted 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 valued at $28,000 after purchasing an additional 182 shares during the period. Activest Wealth Management boosted its holdings in shares of ConocoPhillips by 249.5% in the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 232 shares during the period. Financial Network Wealth Advisors LLC boosted its holdings in shares of ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 222 shares during the period. Stone House Investment Management LLC purchased a new stake in shares of ConocoPhillips in the first quarter valued at approximately $31,000. Finally, IMA Advisory Services Inc. purchased a new stake in shares of ConocoPhillips in the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. The Goldman Sachs Group lowered their price target on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a report on Friday, October 17th. Capital One Financial boosted their price target on ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Jefferies Financial Group lowered their price target on ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a report on Monday, October 13th. Evercore ISI lowered their target price on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a report on Monday, October 6th. Finally, Roth Capital lowered their target price on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. Eighteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $115.63.

ConocoPhillips Stock Down 0.8%

ConocoPhillips stock opened at $86.39 on Wednesday. The business has a fifty day moving average of $93.75 and a two-hundred day moving average of $91.88. 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 $107.90 billion, a P/E ratio of 11.60, a P/E/G ratio of 2.30 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 issued its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The business had revenue of $14.94 billion for 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 quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $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%.

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.