ConocoPhillips $COP Shares Acquired by Castleview Partners LLC

Key Points

• Castleview Partners LLC increased its holdings in ConocoPhillips by 24.5% in Q2, making it the fund's fourth largest investment at a value of $4,151,000.
• Multiple institutional investors, including Elevation Point Wealth Partners and Schwartz Investment Counsel, significantly boosted their stakes in ConocoPhillips, showcasing a strong institutional interest in the company.
• ConocoPhillips reported $1.42 earnings per share for the last quarter, exceeding estimates and indicating a 4.3% revenue increase year-over-year.

Castleview Partners LLC grew its holdings in ConocoPhillips (NYSE:COP - Free Report) by 24.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 46,254 shares of the energy producer's stock after acquiring an additional 9,095 shares during the quarter. ConocoPhillips comprises 2.7% of Castleview Partners LLC's investment portfolio, making the stock its 4th biggest holding. Castleview Partners LLC's holdings in ConocoPhillips were worth $4,151,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Elevation Point Wealth Partners LLC grew its position in shares of ConocoPhillips by 83.0% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock valued at $1,897,000 after buying an additional 8,189 shares during the last quarter. Schwartz Investment Counsel Inc. boosted its stake in ConocoPhillips by 159.6% in the first quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock valued at $5,125,000 after acquiring an additional 30,000 shares in the last quarter. Aberdeen Group plc grew its holdings in shares of ConocoPhillips by 49.3% during the first quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer's stock worth $83,969,000 after purchasing an additional 264,726 shares during the last quarter. ORG Wealth Partners LLC grew its holdings in shares of ConocoPhillips by 853.3% during the first quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock worth $698,000 after purchasing an additional 5,922 shares during the last quarter. Finally, Hennessy Advisors Inc. increased its position in shares of ConocoPhillips by 151.1% during the first quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock worth $9,580,000 after purchasing an additional 54,900 shares in the last quarter. 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. Citigroup decreased their target price on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Morgan Stanley reissued an "overweight" rating and issued a $123.00 price objective (up from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Susquehanna cut their target price 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. Wall Street Zen upgraded shares of ConocoPhillips from a "sell" rating to a "hold" rating in a research report on Saturday, September 20th. Finally, BMO Capital Markets raised their price objective on shares of ConocoPhillips from $113.00 to $115.00 and gave the stock an "outperform" rating in a research report on Monday. Sixteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.14.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $95.54 on Thursday. The stock has a fifty day moving average price of $94.64 and a 200 day moving average price of $93.00. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The company has a market cap of $119.33 billion, a PE ratio of 12.82, a P/E/G ratio of 2.46 and a beta of 0.69.

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 (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. The company had revenue of $14.94 billion for the quarter, compared to analysts' expectations of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. ConocoPhillips's revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.98 EPS. Sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current 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 issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips's dividend payout ratio is currently 41.88%.

ConocoPhillips 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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