ConocoPhillips $COP Shares Purchased by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors LLC increased its stake in ConocoPhillips by 10.8% in Q2, holding 30,166 shares valued at approximately $2.7 million.
• ConocoPhillips reported Q2 earnings of $1.42 per share, exceeding expectations, with revenue of $14.94 billion, a 4.3% increase year over year.
• The company's quarterly dividend was recently declared at $0.78, yielding an annualized rate of 3.4%, with a dividend payout ratio of 41.88%.

Farther Finance Advisors LLC boosted its stake in ConocoPhillips (NYSE:COP - Free Report) by 10.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 30,166 shares of the energy producer's stock after buying an additional 2,930 shares during the period. Farther Finance Advisors LLC's holdings in ConocoPhillips were worth $2,707,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fourth Dimension Wealth LLC bought a new stake in ConocoPhillips during the fourth quarter valued at approximately $39,000. Parr Mcknight Wealth Management Group LLC purchased a new stake in ConocoPhillips during the 4th quarter valued at approximately $232,000. North Star Asset Management Inc. lifted its position in shares of ConocoPhillips by 10.4% during the fourth quarter. North Star Asset Management Inc. now owns 4,363 shares of the energy producer's stock worth $433,000 after purchasing an additional 410 shares during the last quarter. Formidable Asset Management LLC grew its stake in ConocoPhillips by 22.9% in the fourth quarter. Formidable Asset Management LLC now owns 3,385 shares of the energy producer's stock valued at $336,000 after purchasing an additional 630 shares during the last quarter. Finally, Vermillion Wealth Management Inc. purchased a new stake in ConocoPhillips in the fourth quarter valued at approximately $245,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

COP has been the subject of a number of research analyst reports. Wall Street Zen upgraded ConocoPhillips from a "sell" rating to a "hold" rating in a report on Saturday. Royal Bank Of Canada reduced their price target on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating for the company in a report on Friday, July 11th. Melius began coverage on ConocoPhillips in a research report on Wednesday, August 20th. They issued a "hold" rating and a $117.00 target price on the stock. Mizuho decreased their target price on ConocoPhillips from $125.00 to $120.00 and set an "outperform" rating for the company in a research report on Monday, September 15th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $117.00 price target (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $120.14.

ConocoPhillips Stock Up 0.2%

NYSE:COP traded up $0.19 on Monday, hitting $92.11. The stock had a trading volume of 5,797,888 shares, compared to its average volume of 6,350,395. The firm's fifty day simple moving average is $94.55 and its two-hundred day simple moving average is $92.98. The stock has a market cap of $115.04 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 2.42 and a beta of 0.69. 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 quick ratio of 1.10 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping analysts' consensus estimates 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%. The firm's revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.98 EPS. Analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Monday, August 18th. ConocoPhillips's dividend payout ratio (DPR) is currently 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.