Executive Wealth Management LLC increased its position in shares of ConocoPhillips (NYSE:COP) by 16.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,491 shares of the energy producer’s stock after acquiring an additional 206 shares during the quarter. Executive Wealth Management LLC’s holdings in ConocoPhillips were worth $91,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. TRUE Private Wealth Advisors bought a new position in ConocoPhillips in the second quarter valued at approximately $76,000. Ardevora Asset Management LLP lifted its stake in ConocoPhillips by 25.7% in the second quarter. Ardevora Asset Management LLP now owns 536,036 shares of the energy producer’s stock valued at $32,698,000 after buying an additional 109,600 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of ConocoPhillips by 42.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 613,849 shares of the energy producer’s stock worth $37,790,000 after purchasing an additional 183,371 shares in the last quarter. Advisory Services Network LLC lifted its position in shares of ConocoPhillips by 74.7% in the second quarter. Advisory Services Network LLC now owns 87,643 shares of the energy producer’s stock worth $5,346,000 after purchasing an additional 37,489 shares in the last quarter. Finally, Coastal Investment Advisors Inc. lifted its position in shares of ConocoPhillips by 33.6% in the second quarter. Coastal Investment Advisors Inc. now owns 2,913 shares of the energy producer’s stock worth $176,000 after purchasing an additional 732 shares in the last quarter. 73.64% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on the stock. Bank of America raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Wednesday, July 17th. ValuEngine raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Thursday, June 27th. Morgan Stanley cut their price objective on shares of ConocoPhillips from $84.00 to $81.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $74.00 to $80.00 in a research report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. cut their price objective on shares of ConocoPhillips from $83.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $77.07.
ConocoPhillips (NYSE:COP) last issued its earnings results on Tuesday, July 30th. The energy producer reported $1.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.03 by ($0.02). The firm had revenue of $8.38 billion for the quarter, compared to analyst estimates of $9.42 billion. ConocoPhillips had a return on equity of 15.96% and a net margin of 18.33%. ConocoPhillips’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 earnings per share. On average, equities analysts anticipate that ConocoPhillips will post 4.04 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, July 22nd will be issued a dividend of $0.305 per share. The ex-dividend date is Friday, July 19th. This represents a $1.22 dividend on an annualized basis and a yield of 2.37%. ConocoPhillips’s payout ratio is 26.93%.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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