Bingham Private Wealth LLC Increases Stake in ConocoPhillips $COP

Bingham Private Wealth LLC lifted its stake in shares of ConocoPhillips (NYSE:COP) by 5.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,708 shares of the energy producer’s stock after buying an additional 205 shares during the quarter. Bingham Private Wealth LLC’s holdings in ConocoPhillips were worth $333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Tritonpoint Wealth LLC raised its position in shares of ConocoPhillips by 1.3% during the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock valued at $747,000 after purchasing an additional 110 shares during the period. Iowa State Bank raised its position in shares of ConocoPhillips by 0.5% during the 2nd quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock valued at $1,992,000 after purchasing an additional 110 shares during the period. First National Bank Sioux Falls raised its position in shares of ConocoPhillips by 4.6% during the 2nd quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock valued at $231,000 after purchasing an additional 113 shares during the period. KLCM Advisors Inc. raised its position in shares of ConocoPhillips by 2.6% during the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock valued at $473,000 after purchasing an additional 115 shares during the period. Finally, Fairvoy Private Wealth LLC grew its stake in ConocoPhillips by 3.5% during the second quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock valued at $314,000 after acquiring an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $94.86 on Tuesday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08. The stock has a market capitalization of $118.47 billion, a P/E ratio of 12.73, a PEG ratio of 2.49 and a beta of 0.62. The firm has a fifty day simple moving average of $94.88 and a two-hundred day simple moving average of $92.74. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

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

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid 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 of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on COP shares. Roth Capital reaffirmed a “buy” rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. Susquehanna cut their target price on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a research note on Wednesday, July 23rd. Scotiabank raised their target price on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research note on Friday, July 11th. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Finally, Evercore ISI cut their target price on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research note on Monday. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $117.32.

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.