Envestnet Portfolio Solutions Inc. Buys 21,940 Shares of ConocoPhillips $COP

Envestnet Portfolio Solutions Inc. lifted its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 16.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 155,394 shares of the energy producer's stock after purchasing an additional 21,940 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in ConocoPhillips were worth $13,945,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Financial Network Wealth Advisors LLC increased its holdings 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 ConocoPhillips during the first quarter valued at about $31,000. Garde Capital Inc. bought a new position in ConocoPhillips during the first quarter worth about $35,000. IMA Advisory Services Inc. purchased a new position in shares of ConocoPhillips in the first quarter worth about $37,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its stake in shares of ConocoPhillips by 418.6% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer's stock worth $38,000 after purchasing an additional 293 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $88.77 on Tuesday. The stock's 50-day simple moving average is $94.52 and its two-hundred day simple moving average is $92.35. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38. The firm has a market capitalization of $110.87 billion, a P/E ratio of 11.92, a P/E/G ratio of 2.33 and a beta of 0.62. 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 issued its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping the consensus estimate 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 return on equity of 14.60% and a net margin of 15.26%.ConocoPhillips's revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.98 earnings per share. As a group, 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. Shareholders 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 annualized dividend and a yield of 3.5%. ConocoPhillips's payout ratio is 41.88%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Roth Capital restated a "buy" rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. Evercore ISI dropped their target price on ConocoPhillips from $115.00 to $111.00 and set an "outperform" rating on the stock in a research report on Monday, October 6th. Capital One Financial raised their price target on ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. JPMorgan Chase & Co. boosted their price objective on ConocoPhillips from $114.00 to $115.00 and gave the company an "overweight" rating in a research note on Thursday, October 9th. Finally, Mizuho cut their target price on ConocoPhillips from $125.00 to $120.00 and set an "outperform" rating for the company in a research note on Monday, September 15th. Seventeen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of "Moderate Buy" and an average target price of $117.65.

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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