PKO Investment Management Joint Stock Co Has $3.39 Million Stake in ConocoPhillips $COP

PKO Investment Management Joint Stock Co grew its position in ConocoPhillips (NYSE:COP) by 8.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,819 shares of the energy producer’s stock after acquiring an additional 3,000 shares during the period. PKO Investment Management Joint Stock Co’s holdings in ConocoPhillips were worth $3,394,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Bogart Wealth LLC lifted its holdings in shares of ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after acquiring an additional 182 shares during the period. Activest Wealth Management lifted its holdings in shares of ConocoPhillips by 249.5% during the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after acquiring an additional 232 shares during the period. Financial Network Wealth Advisors LLC lifted its holdings in shares of ConocoPhillips by 341.5% during 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 acquired a new position in ConocoPhillips during the 1st quarter worth approximately $31,000. Finally, IMA Advisory Services Inc. bought a new position in ConocoPhillips in the 1st quarter valued at approximately $37,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $88.01 on Friday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38. The company’s 50 day moving average price is $93.32 and its two-hundred day moving average price is $91.92. 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 stock has a market cap of $109.92 billion, a P/E ratio of 11.81, a P/E/G ratio of 2.40 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The firm had revenue of $14.94 billion during the quarter, compared to analyst estimates 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 quarter last year, the business earned $1.98 earnings per share. On average, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders 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 annualized dividend and a yield of 3.5%. ConocoPhillips’s dividend payout ratio is presently 41.88%.

Analyst Ratings Changes

Several research analysts have recently issued reports on COP shares. Wells Fargo & Company assumed coverage on ConocoPhillips in a research note on Friday, October 17th. They issued an “equal weight” rating and a $100.00 price objective for the company. Melius assumed coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target for the company. BMO Capital Markets upped their price target on shares of ConocoPhillips from $115.00 to $117.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. The Goldman Sachs Group decreased their price target on shares of ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, October 17th. Finally, Susquehanna decreased their price target on shares of ConocoPhillips to $113.00 and set a “positive” rating for the company in a research report on Monday. Eighteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $115.63.

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.