ConocoPhillips $COP Shares Acquired by Cornerstone Advisory LLC

Cornerstone Advisory LLC boosted its stake in ConocoPhillips (NYSE:COP) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,322 shares of the energy producer’s stock after buying an additional 124 shares during the period. Cornerstone Advisory LLC’s holdings in ConocoPhillips were worth $298,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Financial Network Wealth Advisors LLC increased its holdings 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 worth $30,000 after acquiring an additional 222 shares during the period. Stone House Investment Management LLC bought a new position in ConocoPhillips in the 1st quarter worth about $31,000. Bogart Wealth LLC grew its position in ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after purchasing an additional 182 shares during the last quarter. Activest Wealth Management increased its stake 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. Finally, IMA Advisory Services Inc. bought a new stake in shares of ConocoPhillips during the first quarter valued at approximately $37,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Up 3.1%

COP stock opened at $90.08 on Friday. The firm has a market cap of $112.51 billion, a PE ratio of 12.09, a P/E/G ratio of 2.33 and a beta of 0.62. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The firm has a 50 day simple moving average of $93.47 and a 200 day simple moving average of $91.88.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. During the same quarter in the prior year, the company earned $1.98 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. Equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced 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 3.5%. ConocoPhillips’s payout ratio is 41.88%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Mizuho lowered their target price on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Melius Research started coverage on ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target for the company. Jefferies Financial Group cut their price objective on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Melius began coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective for the company. Finally, Morgan Stanley decreased their target price on shares of ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. Eighteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.63.

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.