Linscomb Wealth Inc. Has $996,000 Stake in ConocoPhillips $COP

Linscomb Wealth Inc. grew its holdings in ConocoPhillips (NYSE:COP) by 107.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,097 shares of the energy producer’s stock after purchasing an additional 5,760 shares during the quarter. Linscomb Wealth Inc.’s holdings in ConocoPhillips were worth $996,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Tritonpoint Wealth LLC grew its position in shares of ConocoPhillips by 1.3% in the second 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 last quarter. Iowa State Bank grew its position in shares of ConocoPhillips by 0.5% in the second 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 last quarter. First National Bank Sioux Falls grew its position in shares of ConocoPhillips by 4.6% in the second 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 last quarter. KLCM Advisors Inc. grew its position in shares of ConocoPhillips by 2.6% in the first 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 last quarter. Finally, Fairvoy Private Wealth LLC grew its position in shares of ConocoPhillips by 3.5% in the second quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock valued at $314,000 after purchasing an additional 117 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 1.0%

Shares of COP opened at $88.99 on Friday. The stock has a market cap of $111.14 billion, a price-to-earnings ratio of 11.94, a P/E/G ratio of 2.36 and a beta of 0.62. 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 has a 12 month low of $79.88 and a 12 month high of $115.38. The company has a 50-day moving average price of $92.66 and a two-hundred day moving average price of $91.99.

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

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a $0.78 dividend. 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 dividend payout ratio (DPR) is currently 41.88%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on COP. Wall Street Zen downgraded ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Capital One Financial lifted their target price on ConocoPhillips from $111.00 to $112.00 in a research report on Friday, October 3rd. Mizuho decreased their target price on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. JPMorgan Chase & Co. lifted their target price on ConocoPhillips from $114.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, October 9th. 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 research report on Monday, September 8th. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.63.

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.