Heritage Wealth Advisors Increases Position in ConocoPhillips $COP

Heritage Wealth Advisors boosted its position in shares of ConocoPhillips (NYSE:COP) by 2.5% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 455,963 shares of the energy producer’s stock after acquiring an additional 11,140 shares during the quarter. ConocoPhillips comprises about 1.9% of Heritage Wealth Advisors’ portfolio, making the stock its 18th largest position. Heritage Wealth Advisors’ holdings in ConocoPhillips were worth $40,918,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Financial Network Wealth Advisors LLC raised its holdings in shares of ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after purchasing an additional 222 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in ConocoPhillips during the 1st quarter worth about $31,000. Bogart Wealth LLC raised its stake in shares of ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after buying an additional 182 shares during the last quarter. Activest Wealth Management lifted its holdings in shares of ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after buying an additional 232 shares during the period. Finally, IMA Advisory Services Inc. purchased a new position in ConocoPhillips during the first quarter valued at approximately $37,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 1.0%

Shares of NYSE COP opened at $89.64 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $90.83 and its two-hundred day moving average is $91.93. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $115.38. The firm has a market cap of $110.77 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 2.36 and a beta of 0.58.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. The business had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.78 earnings per share. Research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 3.7%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date is Monday, November 17th. ConocoPhillips’s dividend payout ratio (DPR) is 47.52%.

Insider Buying and Selling

In related news, Director William H. Mcraven purchased 5,768 shares of ConocoPhillips stock in a transaction on Monday, November 10th. The shares were bought at an average price of $86.68 per share, with a total value of $499,970.24. Following the transaction, the director directly owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on COP shares. Jefferies Financial Group cut their price objective on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a report on Monday, October 13th. Raymond James Financial decreased their price objective on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Capital One Financial upped their target price on shares of ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, UBS Group lowered their price target on shares of ConocoPhillips from $122.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Eighteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $115.33.

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.