Concurrent Investment Advisors LLC Has $6.22 Million Stake in ConocoPhillips $COP

Key Points

• Concurrent Investment Advisors LLC has increased its stake in ConocoPhillips by 11.5%, now holding 69,265 shares worth approximately $6.22 million.
• ConocoPhillips reported $1.42 earnings per share for the last quarter, exceeding estimates and showing a 4.3% year-over-year revenue increase.
• The company recently declared a quarterly dividend of $0.78 per share, yielding 3.6%, with a dividend payout ratio of 41.88%.

Concurrent Investment Advisors LLC boosted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 11.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,265 shares of the energy producer's stock after buying an additional 7,163 shares during the period. Concurrent Investment Advisors LLC's holdings in ConocoPhillips were worth $6,216,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Tritonpoint Wealth LLC boosted its holdings in shares of ConocoPhillips by 1.3% in the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer's stock worth $747,000 after buying an additional 110 shares during the last quarter. Iowa State Bank boosted its holdings in shares of ConocoPhillips by 0.5% in the 2nd quarter. Iowa State Bank now owns 22,193 shares of the energy producer's stock worth $1,992,000 after buying an additional 110 shares during the last quarter. First National Bank Sioux Falls boosted its holdings in shares of ConocoPhillips by 4.6% in the 2nd quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer's stock worth $231,000 after buying an additional 113 shares during the last quarter. KLCM Advisors Inc. boosted its holdings in shares of ConocoPhillips by 2.6% in the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer's stock worth $473,000 after buying an additional 115 shares during the last quarter. Finally, Fairvoy Private Wealth LLC boosted its holdings in shares of ConocoPhillips by 3.5% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer's stock worth $314,000 after buying an additional 117 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 4.5%

Shares of ConocoPhillips stock opened at $87.83 on Monday. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $115.38. The stock's 50-day simple moving average is $94.60 and its 200 day simple moving average is $92.44. The stock has a market capitalization of $109.70 billion, a P/E ratio of 11.79, a P/E/G ratio of 2.33 and a beta of 0.62. 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 announced its quarterly 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. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $14.94 billion for the quarter, compared to analysts' expectations of $14.39 billion. During the same period in the prior year, the business posted $1.98 earnings per share. The company's revenue was up 4.3% on a year-over-year basis. As a group, research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.6%. ConocoPhillips's dividend payout ratio is currently 41.88%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on COP shares. Susquehanna cut their price target on shares of ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. 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 report on Monday, September 15th. Capital One Financial boosted their price target on shares of ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Royal Bank Of Canada cut their price target on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a report on Friday, July 11th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $117.52.

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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