Sovran Advisors LLC Buys 175 Shares of ConocoPhillips $COP

Sovran Advisors LLC boosted its stake in shares of ConocoPhillips (NYSE:COP) by 1.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,027 shares of the energy producer’s stock after acquiring an additional 175 shares during the quarter. Sovran Advisors LLC’s holdings in ConocoPhillips were worth $1,439,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC grew its holdings in ConocoPhillips by 83.0% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer’s stock worth $1,897,000 after acquiring an additional 8,189 shares during the last quarter. Schwartz Investment Counsel Inc. grew its holdings in ConocoPhillips by 159.6% during the 1st quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer’s stock worth $5,125,000 after acquiring an additional 30,000 shares during the last quarter. Aberdeen Group plc grew its holdings in ConocoPhillips by 49.3% during the 1st 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 last quarter. ORG Wealth Partners LLC grew its holdings in ConocoPhillips by 853.3% during the 1st quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer’s stock worth $698,000 after acquiring an additional 5,922 shares during the last quarter. Finally, Hennessy Advisors Inc. boosted its stake in shares of ConocoPhillips by 151.1% in the 1st quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer’s stock valued at $9,580,000 after purchasing an additional 54,900 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $93.50 on Friday. The company has a market capitalization of $116.78 billion, a price-to-earnings ratio of 12.55, a P/E/G ratio of 2.47 and a beta of 0.69. The firm’s 50 day simple moving average is $94.66 and its 200 day simple moving average is $92.90. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share 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 the consensus estimate of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. ConocoPhillips’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the company posted $1.98 EPS. As a group, sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Bank of America reduced their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Roth Capital reaffirmed a “buy” rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. UBS Group raised their target price on shares of ConocoPhillips from $116.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Melius assumed coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price on the stock. Finally, Susquehanna reduced their target price on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research note on Wednesday, July 23rd. Sixteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $120.62.

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.