Avior Wealth Management LLC Increases Stock Position in ConocoPhillips $COP

Key Points

• Avior Wealth Management LLC increased its holdings in ConocoPhillips by 56.7% during the 2nd quarter, bringing its total shares to 26,794, valued at $2,404,000.
• Multiple institutional investors have significantly raised their positions in ConocoPhillips, with Charles Schwab increasing its stake by 379.7% in the first quarter.
• ConocoPhillips announced a quarterly dividend of $0.78 per share, representing an annualized yield of 3.2%, with a current dividend payout ratio of 41.88%.

Avior Wealth Management LLC boosted its holdings in ConocoPhillips (NYSE:COP - Free Report) by 56.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,794 shares of the energy producer's stock after acquiring an additional 9,695 shares during the quarter. Avior Wealth Management LLC's holdings in ConocoPhillips were worth $2,404,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in ConocoPhillips by 379.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer's stock valued at $4,210,751,000 after acquiring an additional 31,736,423 shares during the period. Wellington Management Group LLP raised its holdings in shares of ConocoPhillips by 1.4% during the first quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer's stock valued at $3,319,746,000 after purchasing an additional 437,709 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of ConocoPhillips by 30.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer's stock valued at $942,297,000 after purchasing an additional 2,080,625 shares during the last quarter. Ameriprise Financial Inc. lifted its position in ConocoPhillips by 15.1% during the first quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer's stock valued at $861,490,000 after purchasing an additional 1,073,906 shares during the period. Finally, Nuveen LLC purchased a new stake in ConocoPhillips in the first quarter worth approximately $658,981,000. Institutional investors own 82.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on COP shares. Royal Bank Of Canada decreased their target price on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating for the company in a research note on Friday, July 11th. Citigroup cut their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Melius Research began coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They issued a "hold" rating and a $117.00 target price for the company. UBS Group lifted their price target on shares of ConocoPhillips from $116.00 to $124.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Finally, BMO Capital Markets upped their price target on shares of ConocoPhillips from $113.00 to $115.00 and gave the stock an "outperform" rating in a research report on Monday, September 22nd. Sixteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $120.14.

ConocoPhillips Price Performance

COP stock opened at $98.47 on Monday. 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's fifty day moving average price is $94.85 and its 200-day moving average price is $92.99. ConocoPhillips has a one year low of $79.88 and a one year high of $116.08. The company has a market capitalization of $122.98 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 2.59 and a beta of 0.69.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same period in the previous year, the firm posted $1.98 EPS. ConocoPhillips's revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a yield of 3.2%. ConocoPhillips's dividend payout ratio is presently 41.88%.

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.

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