ConocoPhillips $COP Holdings Raised by Summit Place Financial Advisors LLC

Summit Place Financial Advisors LLC grew its stake in shares of ConocoPhillips (NYSE:COP) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,875 shares of the energy producer’s stock after purchasing an additional 150 shares during the period. Summit Place Financial Advisors LLC’s holdings in ConocoPhillips were worth $1,066,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Acima Private Wealth LLC lifted its holdings in shares of ConocoPhillips by 3.8% during the second quarter. Acima Private Wealth LLC now owns 5,450 shares of the energy producer’s stock valued at $489,000 after purchasing an additional 200 shares during the last quarter. Strengthening Families & Communities LLC lifted its stake in ConocoPhillips by 0.8% in the 2nd quarter. Strengthening Families & Communities LLC now owns 18,558 shares of the energy producer’s stock worth $1,680,000 after acquiring an additional 140 shares in the last quarter. PDS Planning Inc lifted its stake in ConocoPhillips by 7.1% in the 2nd quarter. PDS Planning Inc now owns 11,585 shares of the energy producer’s stock worth $1,040,000 after acquiring an additional 764 shares in the last quarter. Blue Trust Inc. lifted its stake in ConocoPhillips by 1.3% in the 2nd quarter. Blue Trust Inc. now owns 20,754 shares of the energy producer’s stock worth $1,863,000 after acquiring an additional 276 shares in the last quarter. Finally, Fourpath Capital Management LLC lifted its stake in ConocoPhillips by 3.6% in the 2nd quarter. Fourpath Capital Management LLC now owns 5,804 shares of the energy producer’s stock worth $521,000 after acquiring an additional 201 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $87.83 on Friday. The firm has a market cap of $109.70 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 2.44 and a beta of 0.62. The business’s 50-day simple moving average is $94.60 and its 200-day simple moving average is $92.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. The firm had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.98 EPS. As a group, equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is 41.88%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on COP shares. Roth Capital reissued a “buy” rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Raymond James Financial reduced their price objective on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. Royal Bank Of Canada reduced their price objective on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating for the company in a research note on Friday, July 11th. Finally, BMO Capital Markets increased their price objective on ConocoPhillips from $113.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.23.

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.