Clifford Swan Investment Counsel LLC Grows Position in ConocoPhillips $COP

Key Points

• Clifford Swan Investment Counsel LLC increased its stake in ConocoPhillips by 5.5% in Q2, owning 93,318 shares worth approximately $8.37 million at the end of the period.
• Several hedge funds significantly increased their holdings in ConocoPhillips, with Bogart Wealth LLC growing its stake by 136.8% in Q2.
• ConocoPhillips recently reported $1.42 EPS, exceeding analysts' expectations, and announced a dividend of $0.78 per share, which represents a yield of 3.6%.

Clifford Swan Investment Counsel LLC boosted its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 5.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 93,318 shares of the energy producer's stock after acquiring an additional 4,906 shares during the period. Clifford Swan Investment Counsel LLC's holdings in ConocoPhillips were worth $8,374,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Bogart Wealth LLC lifted its position in shares of ConocoPhillips by 136.8% in the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer's stock worth $28,000 after buying an additional 182 shares in the last quarter. Activest Wealth Management grew its holdings in ConocoPhillips by 249.5% during the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer's stock valued at $29,000 after buying an additional 232 shares in the last quarter. Financial Network Wealth Advisors LLC increased its stake in ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock worth $30,000 after acquiring an additional 222 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $31,000. Finally, IMA Advisory Services Inc. bought a new position in shares of ConocoPhillips during the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on COP. Wells Fargo & Company began 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. BMO Capital Markets boosted their target price on shares of ConocoPhillips from $115.00 to $117.00 and gave the stock an "outperform" rating in a report on Monday, October 13th. Royal Bank Of Canada upped their target price on shares of ConocoPhillips from $113.00 to $118.00 and gave the company an "outperform" rating in a research report on Monday, October 13th. Weiss Ratings reiterated a "hold (c-)" rating on shares of ConocoPhillips in a research report on Wednesday, October 8th. Finally, Capital One Financial boosted their price objective on ConocoPhillips from $111.00 to $112.00 in a research note on Friday, October 3rd. Eighteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $115.63.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $87.45 on Thursday. The company has a market capitalization of $109.22 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 2.28 and a beta of 0.62. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38. The stock's fifty day moving average is $93.58 and its two-hundred day moving average is $91.85. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.06. The company had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm's revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the business posted $1.98 EPS. As a group, analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.6%. ConocoPhillips's dividend payout ratio is 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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