Institute for Wealth Management LLC. Grows Position in ConocoPhillips (NYSE:COP)

Institute for Wealth Management LLC. increased its position in shares of ConocoPhillips (NYSE:COP) by 7.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 20,655 shares of the energy producer’s stock after buying an additional 1,466 shares during the quarter. Institute for Wealth Management LLC.’s holdings in ConocoPhillips were worth $868,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Jackson Hole Capital Partners LLC grew its stake in ConocoPhillips by 3.0% during the 1st quarter. Jackson Hole Capital Partners LLC now owns 8,693 shares of the energy producer’s stock worth $268,000 after buying an additional 250 shares during the last quarter. Center for Financial Planning Inc. grew its stake in shares of ConocoPhillips by 5.3% in the 1st quarter. Center for Financial Planning Inc. now owns 4,991 shares of the energy producer’s stock valued at $154,000 after purchasing an additional 252 shares during the last quarter. Laurel Wealth Advisors Inc. grew its stake in shares of ConocoPhillips by 3.7% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 7,243 shares of the energy producer’s stock valued at $223,000 after purchasing an additional 258 shares during the last quarter. Financial Management Professionals Inc. grew its stake in shares of ConocoPhillips by 9.9% in the 2nd quarter. Financial Management Professionals Inc. now owns 2,934 shares of the energy producer’s stock valued at $123,000 after purchasing an additional 265 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC grew its stake in shares of ConocoPhillips by 11.6% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 2,614 shares of the energy producer’s stock valued at $110,000 after purchasing an additional 271 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Several research analysts have weighed in on the company. Susquehanna Bancshares lifted their target price on ConocoPhillips from $40.00 to $50.00 in a research note on Friday, May 1st. Goldman Sachs Group upgraded ConocoPhillips from a “buy” rating to a “conviction-buy” rating in a research note on Monday, May 4th. Scotiabank lowered their target price on ConocoPhillips from $50.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Monday, July 13th. ValuEngine upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Friday, May 1st. Finally, UBS Group raised their price target on ConocoPhillips from $50.00 to $62.00 and gave the company a “buy” rating in a report on Monday, June 29th. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $56.25.

COP stock traded down $0.25 during midday trading on Friday, hitting $37.39. 7,721,107 shares of the stock were exchanged, compared to its average volume of 6,250,089. The stock’s 50-day moving average price is $41.34 and its 200-day moving average price is $44.25. The stock has a market cap of $40.10 billion, a price-to-earnings ratio of 18.42 and a beta of 1.69. ConocoPhillips has a fifty-two week low of $20.84 and a fifty-two week high of $67.13. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.04 and a current ratio of 2.69.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, July 30th. The energy producer reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.34). ConocoPhillips had a return on equity of 3.72% and a net margin of 8.49%. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.19 billion. During the same period in the prior year, the firm posted $1.01 earnings per share. Research analysts anticipate that ConocoPhillips will post -0.32 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, July 20th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, July 17th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.49%. ConocoPhillips’s dividend payout ratio (DPR) is 46.80%.

In related news, Director David Thomas Seaton purchased 2,400 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average cost of $41.03 per share, with a total value of $98,472.00. Following the completion of the acquisition, the director now directly owns 2,500 shares in the company, valued at approximately $102,575. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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