Forvis Mazars Wealth Advisors LLC Raises Stake in ConocoPhillips $COP

Forvis Mazars Wealth Advisors LLC lifted its position in shares of ConocoPhillips (NYSE:COP) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,358 shares of the energy producer’s stock after buying an additional 1,054 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in ConocoPhillips were worth $4,250,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of COP. Financial Network Wealth Advisors LLC grew its holdings in 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 purchasing an additional 222 shares during the period. Stone House Investment Management LLC purchased a new stake in ConocoPhillips in the first quarter valued at approximately $31,000. Activest Wealth Management grew its holdings 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 purchasing an additional 232 shares during the period. Garde Capital Inc. purchased a new stake in ConocoPhillips in the first quarter valued at approximately $35,000. Finally, IMA Advisory Services Inc. purchased a new stake in ConocoPhillips in the first quarter valued at approximately $37,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Trading Down 0.4%

Shares of COP stock opened at $86.53 on Friday. The stock has a market cap of $108.07 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 2.32 and a beta of 0.62. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38. The firm’s 50 day moving average price is $94.04 and its two-hundred day moving average price is $91.93.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. During the same period in the previous year, the company posted $1.98 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s payout ratio is presently 41.88%.

Analysts Set New Price Targets

A number of research firms recently issued reports on COP. Barclays lowered their target price on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Melius Research began coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price for the company. Melius began coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target on the stock. Wall Street Zen cut shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Morgan Stanley reduced their price target on shares of ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 14th. Seventeen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.00.

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.