Tectonic Advisors LLC Boosts Stock Holdings in ConocoPhillips $COP

Tectonic Advisors LLC grew its position in shares of ConocoPhillips (NYSE:COP) by 8.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,522 shares of the energy producer’s stock after purchasing an additional 579 shares during the quarter. Tectonic Advisors LLC’s holdings in ConocoPhillips were worth $675,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. increased its holdings in ConocoPhillips by 1,364.3% in the 1st quarter. Harbor Capital Advisors Inc. now owns 26,211 shares of the energy producer’s stock worth $2,753,000 after acquiring an additional 24,421 shares in the last quarter. Simplicity Wealth LLC purchased a new stake in ConocoPhillips in the 1st quarter worth $1,068,000. Focus Financial Network Inc. increased its holdings in ConocoPhillips by 2.9% in the 1st quarter. Focus Financial Network Inc. now owns 5,217 shares of the energy producer’s stock worth $548,000 after acquiring an additional 147 shares in the last quarter. Simon Quick Advisors LLC increased its holdings in ConocoPhillips by 18.8% in the 1st quarter. Simon Quick Advisors LLC now owns 6,763 shares of the energy producer’s stock worth $710,000 after acquiring an additional 1,068 shares in the last quarter. Finally, apricus wealth LLC increased its holdings in ConocoPhillips by 1.3% in the 1st quarter. apricus wealth LLC now owns 23,992 shares of the energy producer’s stock worth $2,520,000 after acquiring an additional 310 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Down 1.9%

Shares of COP stock opened at $91.94 on Friday. The company’s 50-day moving average price is $94.70 and its 200-day moving average price is $92.69. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The stock has a market cap of $114.83 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 2.49 and a beta of 0.62. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.06. The firm had revenue of $14.94 billion for 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%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.98 EPS. As a group, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.4%. ConocoPhillips’s payout ratio is presently 41.88%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on COP shares. Barclays cut their price target on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a report on Tuesday. Scotiabank upped their target price on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a report on Friday, July 11th. Evercore ISI dropped their target price on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a report on Monday. Capital One Financial upped their target price on shares of ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Finally, Melius Research assumed coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price for the company. Sixteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $117.23.

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.