IMG Wealth Management Inc. Invests $133,000 in ConocoPhillips $COP

IMG Wealth Management Inc. purchased a new position in shares of ConocoPhillips (NYSE:COP) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,486 shares of the energy producer’s stock, valued at approximately $133,000.

Other large investors have also modified their holdings of the company. Financial Network Wealth Advisors LLC raised its stake in shares of ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after purchasing an additional 222 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in shares of ConocoPhillips during the first quarter worth approximately $31,000. Bogart Wealth LLC raised its stake in shares of ConocoPhillips by 136.8% during the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after purchasing an additional 182 shares during the last quarter. Activest Wealth Management raised its stake in shares of ConocoPhillips by 249.5% during the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after purchasing an additional 232 shares during the last quarter. Finally, Garde Capital Inc. purchased a new stake in shares of ConocoPhillips during the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the subject of several analyst reports. BMO Capital Markets upped their price target on ConocoPhillips from $115.00 to $117.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Wall Street Zen lowered ConocoPhillips from a “hold” rating to a “sell” rating in a report on Saturday. Royal Bank Of Canada upped their price objective on ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Raymond James Financial dropped their price objective on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Finally, Capital One Financial upped their price objective on ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Eighteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $115.63.

ConocoPhillips Stock Up 0.6%

ConocoPhillips stock opened at $87.01 on Tuesday. 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 firm has a market capitalization of $108.67 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 2.29 and a beta of 0.62. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38. The stock’s fifty day moving average is $93.91 and its two-hundred day moving average is $91.92.

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

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.78 per share. 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 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.