Kestra Advisory Services LLC Boosts Holdings in ConocoPhillips $COP

Kestra Advisory Services LLC raised its stake in ConocoPhillips (NYSE:COP) by 13.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,502 shares of the energy producer’s stock after acquiring an additional 10,614 shares during the quarter. Kestra Advisory Services LLC’s holdings in ConocoPhillips were worth $11,814,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. AXA S.A. raised its stake in shares of ConocoPhillips by 91.1% in the second quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock valued at $7,622,000 after buying an additional 40,499 shares during the period. Sei Investments Co. grew its stake in shares of ConocoPhillips by 6.1% during the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock worth $70,397,000 after acquiring an additional 44,852 shares during the period. BNP Paribas purchased a new stake in ConocoPhillips in the 2nd quarter worth about $33,000. Osterweis Capital Management Inc. purchased a new stake in ConocoPhillips in the 2nd quarter worth about $151,000. Finally, Main Street Financial Solutions LLC raised its stake in ConocoPhillips by 53.5% in the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock valued at $431,000 after acquiring an additional 1,675 shares during the period. 82.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wolfe Research upped their price objective on shares of ConocoPhillips from $138.00 to $144.00 and gave the company an “outperform” rating in a report on Monday, April 6th. UBS Group dropped their price objective on shares of ConocoPhillips from $155.00 to $143.00 and set a “buy” rating for the company in a report on Wednesday. The Goldman Sachs Group reduced their target price on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Scotiabank lifted their price target on ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Finally, Roth Capital upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price objective for the company from $124.00 to $130.00 in a research report on Monday, June 22nd. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $134.04.

ConocoPhillips Trading Up 0.0%

NYSE COP opened at $109.06 on Monday. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.87. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The stock has a 50-day moving average of $114.15 and a 200-day moving average of $112.79. The firm has a market cap of $132.86 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 1.31 and a beta of 0.12.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. The business had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.ConocoPhillips’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the company earned $2.09 EPS. As a group, sell-side analysts forecast that ConocoPhillips will post 9.28 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were issued a $0.84 dividend. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 3.1%. ConocoPhillips’s dividend payout ratio (DPR) is currently 57.05%.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.