ConocoPhillips $COP Shares Acquired by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust raised its holdings in shares of ConocoPhillips (NYSE:COP) by 12.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,376 shares of the energy producer’s stock after buying an additional 937 shares during the period. Parkside Financial Bank & Trust’s holdings in ConocoPhillips were worth $752,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bogart Wealth LLC boosted its stake in shares of ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after acquiring an additional 182 shares in the last quarter. Activest Wealth Management lifted its holdings in shares of ConocoPhillips by 249.5% during the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 232 shares during the last quarter. Financial Network Wealth Advisors LLC lifted its holdings in shares of ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 222 shares during the last quarter. Stone House Investment Management LLC acquired a new position in shares of ConocoPhillips in the 1st quarter valued at $31,000. Finally, IMA Advisory Services Inc. purchased a new position in ConocoPhillips in the 1st quarter worth about $37,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP opened at $86.82 on Friday. The company has a market capitalization of $108.43 billion, a PE ratio of 11.65, a PEG ratio of 2.36 and a beta of 0.58. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The company’s 50 day moving average price is $91.58 and its 200 day moving average price is $92.00. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $15.03 billion during the quarter, compared to analyst estimates of $14.51 billion. During the same quarter last year, the business posted $1.78 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. Research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, November 17th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 dividend on an annualized basis and a yield of 3.9%. ConocoPhillips’s payout ratio is 41.88%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on COP. Melius Research began coverage on ConocoPhillips in a report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective on the stock. UBS Group cut their price target on shares of ConocoPhillips from $115.00 to $98.00 in a report on Tuesday, October 28th. Mizuho reduced their price target on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Wells Fargo & Company started coverage on shares of ConocoPhillips in a research note on Friday, October 17th. They issued an “equal weight” rating and a $100.00 price objective for the company. Finally, Melius started coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price on the stock. Eighteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.54.

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.