Freedom Investment Management Inc. Has $791,000 Stock Position in ConocoPhillips $COP

Freedom Investment Management Inc. grew its stake in shares of ConocoPhillips (NYSE:COP) by 11.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,817 shares of the energy producer’s stock after purchasing an additional 885 shares during the quarter. Freedom Investment Management Inc.’s holdings in ConocoPhillips were worth $791,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Financial Network Wealth Advisors LLC increased its position in shares of ConocoPhillips by 341.5% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $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 during the 1st quarter worth approximately $31,000. Bogart Wealth LLC increased its position 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 purchasing an additional 182 shares during the last quarter. Activest Wealth Management increased its position in shares of ConocoPhillips by 249.5% during the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after purchasing an additional 232 shares during the last quarter. Finally, IMA Advisory Services Inc. acquired a new position in shares of ConocoPhillips during the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP opened at $88.01 on Friday. The stock has a fifty day moving average price of $93.32 and a 200-day moving average price of $91.92. The company has a market cap of $109.92 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 2.40 and a beta of 0.62. 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 fifty-two week low of $79.88 and a fifty-two 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 for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. The firm had revenue of $14.94 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the company posted $1.98 EPS. As a group, equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued 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 dividend yield of 3.5%. ConocoPhillips’s payout ratio is 41.88%.

Wall Street Analysts Forecast Growth

COP has been the topic of several recent analyst reports. BMO Capital Markets boosted their price target on ConocoPhillips from $115.00 to $117.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. JPMorgan Chase & Co. boosted their target price on ConocoPhillips from $114.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, October 9th. Mizuho decreased their target price on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Susquehanna decreased their target price on ConocoPhillips to $113.00 and set a “positive” rating on the stock in a report on Monday. Finally, Raymond James Financial decreased their target price on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Eighteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.63.

ConocoPhillips 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.