Evernest Financial Advisors LLC Makes New Investment in ConocoPhillips $COP

Evernest Financial Advisors LLC purchased a new position in shares of ConocoPhillips (NYSE:COP) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,241 shares of the energy producer’s stock, valued at approximately $201,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Tritonpoint Wealth LLC lifted its position in shares of ConocoPhillips by 1.3% in the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock worth $747,000 after acquiring an additional 110 shares during the period. Iowa State Bank lifted its position in shares of ConocoPhillips by 0.5% in the 2nd quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock worth $1,992,000 after acquiring an additional 110 shares during the period. First National Bank Sioux Falls lifted its position in shares of ConocoPhillips by 4.6% in the 2nd quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock worth $231,000 after acquiring an additional 113 shares during the period. KLCM Advisors Inc. lifted its position in shares of ConocoPhillips by 2.6% in the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock worth $473,000 after acquiring an additional 115 shares during the period. Finally, Fairvoy Private Wealth LLC lifted its position in shares of ConocoPhillips by 3.5% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock worth $314,000 after acquiring an additional 117 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 1.0%

Shares of COP opened at $86.83 on Friday. The stock has a fifty day moving average price of $94.19 and a two-hundred day moving average price of $92.16. 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 has a 52-week low of $79.88 and a 52-week high of $115.38. The company has a market cap of $108.45 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 2.35 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $14.39 billion. During the same quarter in the previous year, the company posted $1.98 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. 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 given 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 payout ratio is presently 41.88%.

Analyst Ratings Changes

A number of analysts have commented on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of ConocoPhillips in a research report on Wednesday, October 8th. Evercore ISI decreased their price target on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a research note on Monday, October 6th. Barclays decreased their price target on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Finally, Roth Capital decreased their price target on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday. Seventeen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $116.78.

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.