Secured Retirement Advisors LLC Invests $207,000 in ConocoPhillips $COP

Secured Retirement Advisors LLC purchased a new position in ConocoPhillips (NYSE:COP) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,305 shares of the energy producer’s stock, valued at approximately $207,000.

Several other hedge funds have also recently modified their holdings of the business. REAP Financial Group LLC raised its stake in shares of ConocoPhillips by 99.0% in the second quarter. REAP Financial Group LLC now owns 1,972 shares of the energy producer’s stock worth $177,000 after purchasing an additional 981 shares during the last quarter. Sax Wealth Advisors LLC increased its position in ConocoPhillips by 8.5% during the second quarter. Sax Wealth Advisors LLC now owns 2,286 shares of the energy producer’s stock valued at $205,000 after acquiring an additional 180 shares during the last quarter. BankPlus Trust Department increased its position in ConocoPhillips by 13.1% during the second quarter. BankPlus Trust Department now owns 6,984 shares of the energy producer’s stock valued at $627,000 after acquiring an additional 810 shares during the last quarter. Canopy Partners LLC increased its position in ConocoPhillips by 3.7% during the second quarter. Canopy Partners LLC now owns 7,065 shares of the energy producer’s stock valued at $634,000 after acquiring an additional 249 shares during the last quarter. Finally, Shell Asset Management Co. increased its position in ConocoPhillips by 41.3% during the second quarter. Shell Asset Management Co. now owns 19,313 shares of the energy producer’s stock valued at $1,733,000 after acquiring an additional 5,646 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on COP shares. Barclays reduced their price objective on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a research report on Tuesday. BMO Capital Markets upped their price objective on ConocoPhillips from $113.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Scotiabank upped their price objective on ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $123.00 price objective (up from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $117.23.

ConocoPhillips Stock Performance

NYSE:COP opened at $95.18 on Wednesday. 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 has a 12-month low of $79.88 and a 12-month high of $115.38. The stock has a 50-day moving average price of $94.83 and a 200 day moving average price of $92.75. The stock has a market capitalization of $118.87 billion, a P/E ratio of 12.78, a P/E/G ratio of 2.51 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last released its earnings results 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. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. During the same quarter last year, the business posted $1.98 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. Equities research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

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