BCO Wealth Management LLC Raises Position in ConocoPhillips $COP

BCO Wealth Management LLC grew its position in ConocoPhillips (NYSE:COP) by 9.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,475 shares of the energy producer’s stock after buying an additional 287 shares during the period. ConocoPhillips makes up about 0.2% of BCO Wealth Management LLC’s investment portfolio, making the stock its 26th largest holding. BCO Wealth Management LLC’s holdings in ConocoPhillips were worth $312,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Financial Network Wealth Advisors LLC raised its holdings in ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after buying an additional 222 shares during the last quarter. Stone House Investment Management LLC purchased a new position in ConocoPhillips in the first quarter worth about $31,000. Garde Capital Inc. purchased a new position in ConocoPhillips in the first quarter worth about $35,000. IMA Advisory Services Inc. purchased a new position in shares of ConocoPhillips during the first quarter valued at approximately $37,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of ConocoPhillips by 418.6% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock valued at $38,000 after purchasing an additional 293 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on COP. Morgan Stanley reissued an “overweight” rating and set a $123.00 price objective (up from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Mizuho decreased their price objective on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, September 15th. BMO Capital Markets boosted their price objective on shares of ConocoPhillips from $113.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Royal Bank Of Canada decreased their price objective on shares of ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating for the company in a report on Friday, July 11th. Finally, Susquehanna decreased their price objective on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a report on Wednesday, July 23rd. Sixteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $120.14.

ConocoPhillips Stock Performance

COP opened at $94.63 on Wednesday. The firm has a market cap of $118.19 billion, a P/E ratio of 12.70, a PEG ratio of 2.52 and a beta of 0.69. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08. The company has a 50 day simple moving average of $94.98 and a two-hundred day simple moving average of $92.98. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10.

ConocoPhillips (NYSE:COP) last posted its quarterly 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 business 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 revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.98 earnings per share. Equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

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 $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio is presently 41.88%.

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.