Arista Wealth Management LLC Invests $1.34 Million in ConocoPhillips $COP

Key Points

• Arista Wealth Management LLC invested $1.34 million in ConocoPhillips (COP), acquiring 14,919 shares during the second quarter, indicating growing institutional interest in the energy sector.
• ConocoPhillips recently declared a quarterly dividend of $0.78 per share, representing an annual yield of 3.6% and a payout ratio of 41.88%.
• Despite a drop in price targets from several brokerages, 17 analysts have rated ConocoPhillips stocks as a "Buy," reflecting ongoing positive sentiment among analysts.

Arista Wealth Management LLC bought a new position in shares of ConocoPhillips (NYSE:COP - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 14,919 shares of the energy producer's stock, valued at approximately $1,339,000.

Several other large investors have also recently modified their holdings of COP. Applied Finance Capital Management LLC lifted its stake in shares of ConocoPhillips by 4.6% during the 2nd quarter. Applied Finance Capital Management LLC now owns 122,100 shares of the energy producer's stock valued at $10,958,000 after buying an additional 5,324 shares in the last quarter. Oxbow Advisors LLC raised its holdings in ConocoPhillips by 369.1% during the 2nd quarter. Oxbow Advisors LLC now owns 164,364 shares of the energy producer's stock valued at $14,750,000 after acquiring an additional 129,326 shares during the period. Master S Wealth Management Inc. raised its holdings in ConocoPhillips by 54.9% during the 2nd quarter. Master S Wealth Management Inc. now owns 3,307 shares of the energy producer's stock valued at $297,000 after acquiring an additional 1,172 shares during the period. Praxis Investment Management Inc. lifted its position in shares of ConocoPhillips by 4.9% during the second quarter. Praxis Investment Management Inc. now owns 75,664 shares of the energy producer's stock worth $6,790,000 after acquiring an additional 3,510 shares in the last quarter. Finally, Commons Capital LLC boosted its holdings in shares of ConocoPhillips by 6.7% in the second quarter. Commons Capital LLC now owns 2,797 shares of the energy producer's stock worth $251,000 after acquiring an additional 176 shares during the period. Hedge funds and other institutional investors own 82.36% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on COP. Roth Capital dropped their price objective on ConocoPhillips from $108.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday. Susquehanna decreased their price target on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Scotiabank raised their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Morgan Stanley reduced their price objective on shares of ConocoPhillips from $123.00 to $122.00 and set an "overweight" rating for the company in a research note on Tuesday. Finally, Barclays lowered their target price on shares of ConocoPhillips from $122.00 to $118.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 7th. Seventeen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, ConocoPhillips has an average rating of "Moderate Buy" and an average target price of $116.78.

ConocoPhillips Trading Down 1.0%

Shares of COP opened at $86.83 on Friday. The firm has a market cap of $108.45 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 2.35 and a beta of 0.62. The firm has a 50 day moving average price of $94.19 and a 200-day moving average price of $92.16. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week 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.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly 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. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. During the same period in the previous year, the firm posted $1.98 earnings per share. The firm's revenue for the quarter was up 4.3% on a year-over-year basis. As a group, equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, August 18th. ConocoPhillips's dividend payout ratio (DPR) 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.

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