Oppenheimer Asset Management Inc. Has $19.47 Million Holdings in ConocoPhillips $COP

Oppenheimer Asset Management Inc. lifted its stake in shares of ConocoPhillips (NYSE:COP) by 29.4% during the second quarter, Holdings Channel.com reports. The firm owned 216,995 shares of the energy producer’s stock after buying an additional 49,244 shares during the period. Oppenheimer Asset Management Inc.’s holdings in ConocoPhillips were worth $19,473,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of COP. Bogart Wealth LLC lifted its holdings in 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 buying an additional 182 shares in the last quarter. Activest Wealth Management raised its position in shares of ConocoPhillips by 249.5% during the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after acquiring an additional 232 shares during the last quarter. Financial Network Wealth Advisors LLC lifted its stake 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 acquiring an additional 222 shares during the period. Stone House Investment Management LLC acquired a new position in shares of ConocoPhillips during the first quarter valued at $31,000. Finally, IMA Advisory Services Inc. bought a new position in ConocoPhillips in the first quarter valued at about $37,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wolfe Research dropped their price objective on ConocoPhillips from $137.00 to $130.00 and set an “outperform” rating for the company in a report on Monday, October 20th. Jefferies Financial Group dropped their price target on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Evercore ISI cut their price objective on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a report on Monday, October 6th. Melius Research began coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price for the company. Finally, The Goldman Sachs Group cut their price target on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, October 17th. Eighteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.63.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $88.01 on Friday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $109.92 billion, a PE ratio of 11.81, a PEG ratio of 2.35 and a beta of 0.62. The stock’s fifty day simple moving average is $93.32 and its 200 day simple moving average is $91.98.

ConocoPhillips (NYSE:COP) last released 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. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter last year, the firm posted $1.98 earnings per share. ConocoPhillips’s revenue was up 4.3% compared to the same quarter last year. On average, research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.5%. ConocoPhillips’s payout ratio is 41.88%.

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.