Beacon Financial Group Buys 192 Shares of ConocoPhillips $COP

Beacon Financial Group increased its stake in shares of ConocoPhillips (NYSE:COP) by 1.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 11,379 shares of the energy producer’s stock after purchasing an additional 192 shares during the period. Beacon Financial Group’s holdings in ConocoPhillips were worth $1,021,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its holdings in ConocoPhillips by 379.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after purchasing an additional 31,736,423 shares in the last quarter. Wellington Management Group LLP lifted its holdings in ConocoPhillips by 1.4% during the 1st quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock worth $3,319,746,000 after purchasing an additional 437,709 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in ConocoPhillips by 30.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after purchasing an additional 2,080,625 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in ConocoPhillips by 15.1% during the 1st quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock worth $861,490,000 after purchasing an additional 1,073,906 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in ConocoPhillips during the 1st quarter worth about $658,981,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on COP. Royal Bank Of Canada dropped their price objective on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a report on Friday, July 11th. UBS Group raised their price target on ConocoPhillips from $116.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Susquehanna lowered their price target on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a report on Wednesday, July 23rd. Melius Research began coverage on ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target on the stock. Finally, Bank of America lowered their price target on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. Sixteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $120.62.

ConocoPhillips Stock Up 2.3%

COP stock opened at $94.48 on Wednesday. The stock has a market capitalization of $118.00 billion, a P/E ratio of 12.68, a P/E/G ratio of 2.43 and a beta of 0.69. 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 1-year low of $79.88 and a 1-year high of $116.08. The business has a fifty day moving average price of $94.72 and a 200-day moving average price of $92.89.

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. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. During the same quarter in the prior year, the business earned $1.98 earnings per share. ConocoPhillips’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

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

About ConocoPhillips

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.