Peterson Wealth Services Boosts Stock Holdings in ConocoPhillips $COP

Peterson Wealth Services grew its position in ConocoPhillips (NYSE:COP) by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,457 shares of the energy producer’s stock after purchasing an additional 1,268 shares during the period. ConocoPhillips comprises about 1.5% of Peterson Wealth Services’ portfolio, making the stock its 20th largest position. Peterson Wealth Services’ holdings in ConocoPhillips were worth $5,515,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Schwartz Investment Counsel Inc. boosted its stake in shares of ConocoPhillips by 159.6% in the 1st quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer’s stock worth $5,125,000 after buying an additional 30,000 shares during the last quarter. Aberdeen Group plc lifted its holdings in ConocoPhillips by 49.3% during the first quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock worth $83,969,000 after acquiring an additional 264,726 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in ConocoPhillips by 17.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer’s stock valued at $13,927,000 after purchasing an additional 22,827 shares during the period. Ashton Thomas Private Wealth LLC increased its position in shares of ConocoPhillips by 17.7% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 37,361 shares of the energy producer’s stock valued at $3,924,000 after purchasing an additional 5,627 shares during the last quarter. Finally, Lynx Investment Advisory raised its stake in shares of ConocoPhillips by 316.6% during the 1st quarter. Lynx Investment Advisory now owns 10,769 shares of the energy producer’s stock worth $1,131,000 after purchasing an additional 8,184 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $88.01 on Friday. The firm has a market capitalization of $109.92 billion, a P/E ratio of 11.81, a PEG ratio of 2.40 and a beta of 0.62. ConocoPhillips has a one year low of $79.88 and a one year high of $115.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The business has a fifty day moving average price of $93.32 and a 200-day moving average price of $91.92.

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, topping analysts’ consensus estimates of $1.36 by $0.06. The business had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.98 EPS. As a group, equities research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

Analysts Set New Price Targets

Several brokerages have commented on COP. Raymond James Financial lowered their price objective on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. Wells Fargo & Company started coverage on shares of ConocoPhillips in a report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 price target on the stock. UBS Group reduced their price objective on ConocoPhillips from $124.00 to $122.00 and set a “buy” rating for the company in a report on Monday, October 13th. Evercore ISI decreased their target price on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research report on Monday, October 6th. Finally, Melius initiated coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target on the stock. Eighteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.63.

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.