Modera Wealth Management LLC Has $1.03 Million Stake in ConocoPhillips $COP

Modera Wealth Management LLC raised its position in ConocoPhillips (NYSE:COP) by 9.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,455 shares of the energy producer’s stock after buying an additional 957 shares during the quarter. Modera Wealth Management LLC’s holdings in ConocoPhillips were worth $1,028,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aberdeen Group plc grew its stake in shares of ConocoPhillips by 49.3% in the first quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock worth $83,969,000 after purchasing an additional 264,726 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in ConocoPhillips by 17.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer’s stock worth $13,927,000 after buying an additional 22,827 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in ConocoPhillips by 2.4% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,395,546 shares of the energy producer’s stock worth $304,716,000 after buying an additional 78,642 shares during the period. Commonwealth Retirement Investments LLC bought a new stake in shares of ConocoPhillips in the 2nd quarter valued at about $1,264,000. Finally, Ashton Thomas Private Wealth LLC increased its stake in shares of ConocoPhillips by 17.7% in the first quarter. Ashton Thomas Private Wealth LLC now owns 37,361 shares of the energy producer’s stock valued at $3,924,000 after buying an additional 5,627 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 1.3%

Shares of NYSE COP opened at $86.82 on Friday. 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 $108.43 billion, a PE ratio of 11.65, a P/E/G ratio of 2.36 and a beta of 0.58. The company’s fifty day simple moving average is $91.58 and its 200 day simple moving average is $92.00. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $115.38.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.20. The firm had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business’s revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.78 earnings per share. As a group, sell-side analysts forecast 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. Investors of record on Monday, November 17th will be paid a dividend of $0.84 per share. This is an increase 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 dividend on an annualized basis and a yield of 3.9%. ConocoPhillips’s dividend payout ratio (DPR) is currently 41.88%.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of recent analyst reports. 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 on the stock. Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday. Evercore ISI reduced their price objective on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a research note on Monday, October 6th. Melius Research started coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price for the company. Finally, Roth Capital dropped their target price on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Eighteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $114.54.

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.