ConocoPhillips $COP Shares Purchased by Marco Investment Management LLC

Marco Investment Management LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 4.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 110,460 shares of the energy producer’s stock after purchasing an additional 5,055 shares during the period. Marco Investment Management LLC’s holdings in ConocoPhillips were worth $9,913,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bogart Wealth LLC grew its holdings in shares of ConocoPhillips by 136.8% during the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after buying an additional 182 shares during the last quarter. Activest Wealth Management raised its stake in ConocoPhillips by 249.5% during the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 232 shares during the last quarter. Financial Network Wealth Advisors LLC lifted its position in 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 purchased a new position in shares of ConocoPhillips in the 1st quarter valued at approximately $31,000. Finally, IMA Advisory Services Inc. acquired a new position in shares of ConocoPhillips in the first quarter valued at approximately $37,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

COP has been the subject of several recent research reports. Weiss Ratings downgraded ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 24th. Melius began coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price for the company. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday. Barclays dropped their price target on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Finally, Wells Fargo & Company started coverage on shares of ConocoPhillips in a research report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 price objective for the company. Eighteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $114.67.

ConocoPhillips Stock Performance

NYSE:COP opened at $86.82 on Friday. The firm’s fifty day simple moving average is $91.58 and its 200-day simple moving average is $91.98. 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 $108.43 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.41 by $0.20. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.51 billion. During the same quarter last year, the business earned $1.78 earnings per share. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. Analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a dividend of $0.84 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Monday, November 17th. This represents a $3.36 annualized dividend and a dividend yield of 3.9%. ConocoPhillips’s dividend payout ratio is presently 41.88%.

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.