New York Life Investment Management LLC Buys 1,072 Shares of ConocoPhillips $COP

New York Life Investment Management LLC increased its stake in shares of ConocoPhillips (NYSE:COP) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 171,566 shares of the energy producer’s stock after purchasing an additional 1,072 shares during the quarter. New York Life Investment Management LLC’s holdings in ConocoPhillips were worth $15,396,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Bogart Wealth LLC boosted its holdings in ConocoPhillips by 136.8% in the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after acquiring an additional 182 shares during the last quarter. Activest Wealth Management boosted its holdings in ConocoPhillips by 249.5% in the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 232 shares during the last quarter. Financial Network Wealth Advisors LLC boosted its holdings in ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after acquiring an additional 222 shares during the last quarter. Stone House Investment Management LLC bought a new position in shares of ConocoPhillips in the 1st quarter valued at about $31,000. Finally, IMA Advisory Services Inc. bought a new position in shares of ConocoPhillips in the 1st quarter valued at about $37,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Down 2.1%

Shares of NYSE COP opened at $86.86 on Wednesday. The company’s fifty day moving average is $93.08 and its 200-day moving average is $91.99. The stock has a market cap of $108.49 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 2.37 and a beta of 0.62. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38. 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 (NYSE:COP) last posted its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping the consensus estimate 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 for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.98 earnings per share. Equities research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed 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. This represents a $3.12 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s payout ratio is 41.88%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on COP shares. Roth Capital reduced their target price on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 15th. JPMorgan Chase & Co. raised their price objective on shares of ConocoPhillips from $114.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Barclays reduced their price target on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Weiss Ratings lowered ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 24th. Finally, Wall Street Zen cut ConocoPhillips from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Eighteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $115.63.

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.