Naples Global Advisors LLC Has $1.61 Million Stock Holdings in ConocoPhillips $COP

Naples Global Advisors LLC grew its position in shares of ConocoPhillips (NYSE:COP) by 8.7% during the second quarter, HoldingsChannel.com reports. The firm owned 17,895 shares of the energy producer’s stock after purchasing an additional 1,428 shares during the period. Naples Global Advisors LLC’s holdings in ConocoPhillips were worth $1,606,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in COP. Charles Schwab Investment Management Inc. boosted its stake in shares of ConocoPhillips by 379.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after purchasing an additional 31,736,423 shares in the last quarter. Nuveen LLC acquired a new position in shares of ConocoPhillips in the first quarter worth approximately $658,981,000. AQR Capital Management LLC lifted its stake in shares of ConocoPhillips by 190.5% in the first quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock worth $484,539,000 after acquiring an additional 3,058,505 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of ConocoPhillips by 30.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after acquiring an additional 2,080,625 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of ConocoPhillips by 53.8% in the first quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer’s stock worth $550,334,000 after acquiring an additional 1,834,118 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

Shares of COP opened at $93.45 on Friday. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08. 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 business’s 50 day moving average price is $94.94 and its two-hundred day moving average price is $92.96. The firm has a market cap of $116.71 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 2.51 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same period in the previous year, the firm earned $1.98 earnings per share. The company’s revenue was up 4.3% compared to the same quarter last year. On average, equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a dividend of $0.78 per share. 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 is presently 41.88%.

Wall Street Analyst Weigh In

COP has been the topic of a number of recent analyst reports. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Citigroup cut their price objective on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, June 11th. Mizuho cut their price objective on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Finally, Roth Capital reaffirmed a “buy” rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. Sixteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.14.

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.