LRI Investments LLC Raises Holdings in ConocoPhillips $COP

LRI Investments LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 15.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,966 shares of the energy producer’s stock after acquiring an additional 399 shares during the period. LRI Investments LLC’s holdings in ConocoPhillips were worth $266,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of COP. Tritonpoint Wealth LLC raised its position in ConocoPhillips by 1.3% in the second quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock valued at $747,000 after purchasing an additional 110 shares during the period. Iowa State Bank raised its holdings in ConocoPhillips by 0.5% in the 2nd quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock valued at $1,992,000 after buying an additional 110 shares during the period. First National Bank Sioux Falls raised its holdings in ConocoPhillips by 4.6% in the 2nd quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock valued at $231,000 after buying an additional 113 shares during the period. KLCM Advisors Inc. raised its holdings in ConocoPhillips by 2.6% in the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock valued at $473,000 after buying an additional 115 shares during the period. Finally, Fairvoy Private Wealth LLC raised its holdings in ConocoPhillips by 3.5% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock valued at $314,000 after buying an additional 117 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 4.5%

ConocoPhillips stock opened at $87.83 on Monday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38. The stock’s fifty day simple moving average is $94.60 and its 200-day simple moving average is $92.44. 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 firm has a market capitalization of $109.70 billion, a P/E ratio of 11.79, a P/E/G ratio of 2.33 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter in the prior year, the business earned $1.98 EPS. ConocoPhillips’s revenue was up 4.3% on a year-over-year basis. As a group, equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio is presently 41.88%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on COP shares. Melius Research started coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target on the stock. Susquehanna cut their target price on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research report on Wednesday, July 23rd. Raymond James Financial cut their target price on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. UBS Group boosted their price objective on ConocoPhillips from $116.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.52.

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.