ConocoPhillips $COP Shares Bought by Occidental Asset Management LLC

Occidental Asset Management LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 138.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,043 shares of the energy producer’s stock after buying an additional 6,999 shares during the period. Occidental Asset Management LLC’s holdings in ConocoPhillips were worth $1,252,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of COP. Pallas Capital Advisors LLC boosted its stake in shares of ConocoPhillips by 5.9% in the second quarter. Pallas Capital Advisors LLC now owns 12,136 shares of the energy producer’s stock valued at $1,262,000 after buying an additional 674 shares in the last quarter. Deutsche Bank AG grew its holdings in ConocoPhillips by 8.7% during the second quarter. Deutsche Bank AG now owns 4,607,523 shares of the energy producer’s stock worth $478,998,000 after acquiring an additional 370,122 shares during the period. Perigon Wealth Management LLC raised its position in ConocoPhillips by 20.8% in the second quarter. Perigon Wealth Management LLC now owns 9,805 shares of the energy producer’s stock worth $1,019,000 after acquiring an additional 1,689 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its position in ConocoPhillips by 7.9% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 75,707 shares of the energy producer’s stock worth $7,870,000 after acquiring an additional 5,511 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in ConocoPhillips by 25.2% in the second quarter. Covestor Ltd now owns 612 shares of the energy producer’s stock valued at $64,000 after acquiring an additional 123 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Mizuho decreased their target price on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 7th. Argus increased their price target on shares of ConocoPhillips from $128.00 to $136.00 and gave the company a “buy” rating in a report on Friday, May 15th. Weiss Ratings upgraded shares of ConocoPhillips from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Morgan Stanley restated an “overweight” rating and set a $147.00 target price on shares of ConocoPhillips in a research report on Friday, August 7th. Finally, Susquehanna lifted their price target on shares of ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $137.48.

ConocoPhillips Trading Up 1.8%

Shares of COP stock opened at $129.82 on Wednesday. The stock has a market cap of $155.96 billion, a P/E ratio of 17.17, a P/E/G ratio of 1.40 and a beta of 0.11. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87. The business has a fifty day simple moving average of $114.31 and a 200-day simple moving average of $117.12.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping the consensus estimate of $2.90 by $0.34. The business had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The business’s revenue for the quarter was up 32.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.42 EPS. On average, analysts forecast that ConocoPhillips will post 10.05 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be given a dividend of $0.84 per share. The ex-dividend date is Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. ConocoPhillips’s payout ratio is presently 44.44%.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.