ConocoPhillips $COP Shares Bought by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC boosted its stake in ConocoPhillips (NYSE:COP) by 38.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,691 shares of the energy producer’s stock after purchasing an additional 1,567 shares during the period. Resonant Capital Advisors LLC’s holdings in ConocoPhillips were worth $511,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Financial Network Wealth Advisors LLC grew its stake in shares of ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after buying an additional 222 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in ConocoPhillips in the first quarter valued at approximately $31,000. Bogart Wealth LLC grew its position in ConocoPhillips by 136.8% in the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after acquiring an additional 182 shares in the last quarter. Activest Wealth Management grew its position in ConocoPhillips by 249.5% in the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 232 shares in the last quarter. Finally, IMA Advisory Services Inc. acquired a new stake in ConocoPhillips in the first quarter valued at approximately $37,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 2.3%

NYSE:COP opened at $88.01 on Monday. The company has a market capitalization of $109.92 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 2.35 and a beta of 0.62. ConocoPhillips has a one year low of $79.88 and a one year high of $115.38. The stock has a 50-day simple moving average of $93.32 and a 200 day simple moving average of $91.98. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27.

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

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s payout ratio is currently 41.88%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on COP shares. Capital One Financial raised their price target on shares of ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Royal Bank Of Canada lifted their target price on ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. Wells Fargo & Company assumed coverage on ConocoPhillips in a research report on Friday, October 17th. They set an “equal weight” rating and a $100.00 target price on the stock. Melius assumed coverage on ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective for the company. Finally, Raymond James Financial lowered their price objective on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. Eighteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $115.63.

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.