3,999 Shares in ConocoPhillips $COP Bought by Leo Wealth LLC

Leo Wealth LLC acquired a new position in shares of ConocoPhillips (NYSE:COP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,999 shares of the energy producer’s stock, valued at approximately $359,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its stake in ConocoPhillips by 379.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after acquiring an additional 31,736,423 shares during the period. Wellington Management Group LLP grew its stake in ConocoPhillips by 1.4% in the first quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock valued at $3,319,746,000 after acquiring an additional 437,709 shares during the period. Goldman Sachs Group Inc. grew its stake in ConocoPhillips by 30.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after acquiring an additional 2,080,625 shares during the period. Ameriprise Financial Inc. grew its stake in ConocoPhillips by 15.1% in the first quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock valued at $861,490,000 after acquiring an additional 1,073,906 shares during the period. Finally, Nuveen LLC acquired a new position in ConocoPhillips in the first quarter valued at about $658,981,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

COP opened at $87.83 on Friday. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $115.38. The firm has a market capitalization of $109.70 billion, a PE ratio of 11.79, a PEG ratio of 2.44 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The business’s 50-day simple moving average is $94.60 and its 200 day simple moving average is $92.59.

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 business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the prior year, the company posted $1.98 earnings per share. ConocoPhillips’s revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share 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 paid a $0.78 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.6%. ConocoPhillips’s dividend payout ratio is currently 41.88%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Morgan Stanley restated an “overweight” rating and issued a $123.00 price target (up from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Melius assumed coverage on ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target on the stock. Susquehanna cut their price target on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a report on Wednesday, July 23rd. Melius Research assumed coverage on ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target on the stock. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of ConocoPhillips in a report on Wednesday. Sixteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $117.23.

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.