ConocoPhillips $COP Shares Bought by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of ConocoPhillips (NYSE:COP) by 6.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 19,719 shares of the energy producer’s stock after acquiring an additional 1,124 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in ConocoPhillips were worth $1,770,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Hudson Edge Investment Partners Inc. raised its position in ConocoPhillips by 2.4% during the second quarter. Hudson Edge Investment Partners Inc. now owns 50,564 shares of the energy producer’s stock worth $4,538,000 after acquiring an additional 1,202 shares during the period. Synergy Asset Management LLC raised its position in shares of ConocoPhillips by 34.7% in the second quarter. Synergy Asset Management LLC now owns 16,425 shares of the energy producer’s stock valued at $1,474,000 after buying an additional 4,231 shares during the last quarter. Mattern Capital Management LLC raised its position in shares of ConocoPhillips by 27.5% in the second quarter. Mattern Capital Management LLC now owns 12,535 shares of the energy producer’s stock valued at $1,125,000 after buying an additional 2,702 shares during the last quarter. Hilltop National Bank acquired a new stake in shares of ConocoPhillips in the second quarter valued at about $1,730,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of ConocoPhillips by 6.3% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,210,860 shares of the energy producer’s stock valued at $108,663,000 after buying an additional 71,651 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $94.17 on Friday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08. The stock has a market cap of $117.61 billion, a P/E ratio of 12.64, a PEG ratio of 2.48 and a beta of 0.62. The company has a 50-day moving average price of $94.92 and a 200 day moving average price of $92.85. 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 (NYSE:COP) last released its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. The firm had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. ConocoPhillips’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the business earned $1.98 earnings per share. Sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is 41.88%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COP. BMO Capital Markets increased their target price on shares of ConocoPhillips from $113.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Citigroup reduced their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, June 11th. Capital One Financial increased their target price on shares of ConocoPhillips from $111.00 to $112.00 in a research report on Friday. Mizuho reduced their target price on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Finally, Raymond James Financial reduced their target price on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.77.

ConocoPhillips 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.