Portside Wealth Group LLC Boosts Holdings in ConocoPhillips $COP

Portside Wealth Group LLC increased its position in ConocoPhillips (NYSE:COP) by 18.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,499 shares of the energy producer’s stock after purchasing an additional 2,624 shares during the period. Portside Wealth Group LLC’s holdings in ConocoPhillips were worth $1,481,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bogart Wealth LLC grew its holdings in shares of ConocoPhillips by 136.8% during the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after buying an additional 182 shares during the last quarter. Activest Wealth Management raised its holdings in ConocoPhillips by 249.5% in the 2nd 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 position in ConocoPhillips by 341.5% in the 1st 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 in the last quarter. Stone House Investment Management LLC purchased a new stake in ConocoPhillips during the 1st quarter valued at $31,000. Finally, IMA Advisory Services Inc. bought a new stake in shares of ConocoPhillips in the 1st quarter worth $37,000. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on COP shares. Melius began coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective on the stock. Roth Capital lowered 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. Mizuho dropped their price target on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Raymond James Financial decreased their price objective on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, September 8th. Finally, Wolfe Research restated an “outperform” rating and set a $131.00 price objective on shares of ConocoPhillips in a research report on Thursday, November 6th. Eighteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $115.33.

ConocoPhillips Trading Down 2.6%

ConocoPhillips stock opened at $88.95 on Tuesday. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $115.38. The company has a market cap of $109.92 billion, a P/E ratio of 11.94, a P/E/G ratio of 2.36 and a beta of 0.58. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The business has a 50-day simple moving average of $90.88 and a two-hundred day simple moving average of $91.94.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.20. The firm had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.78 EPS. Analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a dividend of $0.84 per share. The ex-dividend date is Monday, November 17th. This represents a $3.36 annualized dividend and a dividend yield of 3.8%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s dividend payout ratio is 47.52%.

Insider Activity

In other ConocoPhillips news, Director William H. Mcraven acquired 5,768 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was purchased at an average price of $86.68 per share, with a total value of $499,970.24. Following the transaction, the director directly owned 5,768 shares in the company, valued at approximately $499,970.24. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is currently owned by insiders.

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.