Managed Asset Portfolios LLC Has $6.06 Million Stock Position in ConocoPhillips $COP

Managed Asset Portfolios LLC raised its holdings in ConocoPhillips (NYSE:COP) by 13.3% during the second quarter, HoldingsChannel reports. The firm owned 67,498 shares of the energy producer’s stock after acquiring an additional 7,935 shares during the quarter. Managed Asset Portfolios LLC’s holdings in ConocoPhillips were worth $6,057,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of COP. Bogart Wealth LLC boosted its stake in 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 buying an additional 182 shares in the last quarter. Activest Wealth Management lifted 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 worth $29,000 after acquiring an additional 232 shares during the last quarter. Financial Network Wealth Advisors LLC boosted its stake 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 valued at $30,000 after purchasing an additional 222 shares in the last quarter. Stone House Investment Management LLC bought a new stake in shares of ConocoPhillips during the 1st quarter valued at approximately $31,000. Finally, IMA Advisory Services Inc. acquired a new position in ConocoPhillips during the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Up 1.0%

NYSE COP opened at $89.64 on Wednesday. The firm has a market capitalization of $110.77 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58. The business’s 50-day moving average price is $90.83 and its two-hundred day moving average price is $91.93. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38.

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

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.7%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s payout ratio is currently 47.52%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on COP. Barclays cut their target price on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. The Goldman Sachs Group cut their price objective on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, October 17th. JPMorgan Chase & Co. dropped their target price on ConocoPhillips from $115.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday, November 7th. BMO Capital Markets cut their price target on ConocoPhillips from $122.00 to $117.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Finally, Morgan Stanley lowered their price objective on ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, October 14th. Eighteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $115.33.

Insider Buying and Selling at ConocoPhillips

In other news, Director William H. Mcraven bought 5,768 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average price of $86.68 per share, with a total value of $499,970.24. Following the completion of the purchase, the director directly owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.24% of the stock is currently owned by company insiders.

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.