Crux Wealth Advisors Purchases 4,423 Shares of ConocoPhillips $COP

Key Points

• Crux Wealth Advisors increased its stake in ConocoPhillips by 59.7%, purchasing an additional 4,423 shares, bringing their total holdings to 11,830 shares.
• Several institutional investors significantly boosted their positions in ConocoPhillips, with Charles Schwab Investment Management increasing its stake by 379.7%.
• Analysts have recently lowered price targets for ConocoPhillips, with Evercore ISI reducing their target from $115.00 to $111.00 while maintaining an "outperform" rating.

Crux Wealth Advisors boosted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 59.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,830 shares of the energy producer's stock after acquiring an additional 4,423 shares during the period. Crux Wealth Advisors' holdings in ConocoPhillips were worth $1,062,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew 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 worth $4,210,751,000 after buying an additional 31,736,423 shares during the last quarter. Wellington Management Group LLP boosted its holdings in ConocoPhillips by 1.4% in the first quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer's stock worth $3,319,746,000 after acquiring an additional 437,709 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in ConocoPhillips by 30.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer's stock worth $942,297,000 after acquiring an additional 2,080,625 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of ConocoPhillips by 15.1% during the first quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer's stock worth $861,490,000 after acquiring an additional 1,073,906 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of ConocoPhillips during the first quarter valued at about $658,981,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Evercore ISI lowered their target price on shares of ConocoPhillips from $115.00 to $111.00 and set an "outperform" rating for the company in a research note on Monday, October 6th. Wall Street Zen downgraded shares of ConocoPhillips from a "hold" rating to a "sell" rating in a research note on Saturday. Jefferies Financial Group dropped their price objective on shares of ConocoPhillips from $129.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, October 13th. Roth Capital reduced their target price on ConocoPhillips from $108.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Susquehanna lowered their price target on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Seventeen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, ConocoPhillips has a consensus rating of "Moderate Buy" and a consensus target price of $115.00.

ConocoPhillips Trading Down 0.4%

NYSE COP opened at $86.53 on Friday. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. 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 capitalization of $108.07 billion, a PE ratio of 11.61, a P/E/G ratio of 2.32 and a beta of 0.62. The company has a fifty day moving average of $94.04 and a 200 day moving average of $91.93.

ConocoPhillips (NYSE:COP - Get Free Report) last released 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 business had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company's revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business posted $1.98 EPS. Research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.78 dividend. 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 3.6%. ConocoPhillips's payout ratio 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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