World Investment Advisors Raises Position in ConocoPhillips $COP

World Investment Advisors raised its holdings in ConocoPhillips (NYSE:COP) by 13.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,795 shares of the energy producer’s stock after buying an additional 8,289 shares during the period. World Investment Advisors’ holdings in ConocoPhillips were worth $6,353,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smith Salley Wealth Management raised its holdings in shares of ConocoPhillips by 15.6% in the 1st quarter. Smith Salley Wealth Management now owns 7,133 shares of the energy producer’s stock valued at $749,000 after purchasing an additional 960 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in shares of ConocoPhillips in the 1st quarter valued at $45,000. JNBA Financial Advisors raised its holdings in shares of ConocoPhillips by 16.2% in the 1st quarter. JNBA Financial Advisors now owns 1,286 shares of the energy producer’s stock valued at $135,000 after purchasing an additional 179 shares in the last quarter. Clear Creek Financial Management LLC acquired a new stake in shares of ConocoPhillips in the 1st quarter valued at $232,000. Finally, DAVENPORT & Co LLC raised its holdings in shares of ConocoPhillips by 43.7% in the 1st quarter. DAVENPORT & Co LLC now owns 81,099 shares of the energy producer’s stock valued at $8,517,000 after purchasing an additional 24,658 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on COP shares. Weiss Ratings lowered shares of ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 24th. Mizuho cut their price target on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Wells Fargo & Company started coverage on shares of ConocoPhillips in a research note on Friday, October 17th. They set an “equal weight” rating and a $100.00 price target on the stock. Melius started coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target on the stock. Finally, Royal Bank Of Canada lifted their price target on shares of ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Eighteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.63.

ConocoPhillips Trading Up 1.3%

Shares of ConocoPhillips stock opened at $87.96 on Thursday. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. 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 company has a market capitalization of $109.86 billion, a P/E ratio of 11.81, a PEG ratio of 2.32 and a beta of 0.62. The company’s fifty day moving average is $92.94 and its two-hundred day moving average is $92.00.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.06. The business had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.98 earnings per share. Analysts forecast that ConocoPhillips will post 8.16 earnings per share 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 issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.5%. ConocoPhillips’s payout ratio is presently 41.88%.

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.