Grimes & Company Inc. Grows Holdings in ConocoPhillips $COP

Grimes & Company Inc. raised its position in ConocoPhillips (NYSE:COP) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,665 shares of the energy producer’s stock after buying an additional 136 shares during the period. Grimes & Company Inc.’s holdings in ConocoPhillips were worth $1,137,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Financial Network Wealth Advisors LLC boosted its holdings in shares of ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after buying an additional 222 shares during the last quarter. Stone House Investment Management LLC bought a new stake in ConocoPhillips in the first quarter worth about $31,000. Garde Capital Inc. purchased a new position in ConocoPhillips in the first quarter valued at about $35,000. IMA Advisory Services Inc. bought a new position in shares of ConocoPhillips during the 1st quarter valued at approximately $37,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its stake in shares of ConocoPhillips by 418.6% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock worth $38,000 after purchasing an additional 293 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Raymond James Financial decreased their target price on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. Citigroup decreased their price objective on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, June 11th. UBS Group upped their price objective on shares of ConocoPhillips from $116.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Mizuho lowered their price target on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Finally, Melius Research began coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective for the company. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $117.32.

ConocoPhillips Stock Performance

NYSE:COP opened at $94.86 on Tuesday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08. 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 stock has a market cap of $118.47 billion, a P/E ratio of 12.73, a PEG ratio of 2.49 and a beta of 0.62. The business’s 50-day moving average price is $94.88 and its two-hundred day moving average price is $92.74.

ConocoPhillips (NYSE:COP) last released its quarterly 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. The business had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.98 EPS. As a group, equities analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is currently 41.88%.

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.