GC Wealth Management RIA LLC Acquires 5,500 Shares of ConocoPhillips $COP

Key Points

• GC Wealth Management RIA LLC has increased its holdings in ConocoPhillips by 77.5%, acquiring an additional 5,500 shares to reach a total of 12,601 shares valued at approximately $1.13 million.
• Several institutional investors have significantly increased their stakes in ConocoPhillips, with Charles Schwab Investment Management raising its holdings by 379.7% and owning over 40 million shares worth around $4.21 billion.
• ConocoPhillips recently announced a quarterly dividend of $0.78 per share, reflecting a 3.3% yield and a payout ratio of approximately 41.88%.

GC Wealth Management RIA LLC increased its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 77.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,601 shares of the energy producer's stock after purchasing an additional 5,500 shares during the period. GC Wealth Management RIA LLC's holdings in ConocoPhillips were worth $1,131,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. raised its holdings 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 period. Wellington Management Group LLP raised its holdings in shares of ConocoPhillips by 1.4% during 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 during the period. Goldman Sachs Group Inc. lifted its position in ConocoPhillips by 30.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer's stock valued at $942,297,000 after acquiring an additional 2,080,625 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in ConocoPhillips by 15.1% in the 1st quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer's stock worth $861,490,000 after purchasing an additional 1,073,906 shares during the period. Finally, Nuveen LLC bought a new position in ConocoPhillips during the 1st quarter worth about $658,981,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on COP. Melius Research initiated coverage on ConocoPhillips in a research note on Wednesday, August 20th. They issued a "hold" rating and a $117.00 target price on the stock. UBS Group lifted their price objective on shares of ConocoPhillips from $116.00 to $124.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Royal Bank Of Canada cut their price objective on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a research report on Friday, July 11th. Morgan Stanley reaffirmed an "overweight" rating and issued a $123.00 target price (up previously from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $120.14.

ConocoPhillips Stock Down 2.8%

ConocoPhillips stock opened at $95.72 on Tuesday. The company's 50-day moving average price is $94.95 and its two-hundred day moving average price is $92.97. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The stock has a market cap of $119.55 billion, a P/E ratio of 12.85, a P/E/G ratio of 2.59 and a beta of 0.69. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $14.94 billion during the quarter, compared to analysts' expectations of $14.39 billion. During the same quarter in the previous year, the business posted $1.98 earnings per share. ConocoPhillips's quarterly revenue was up 4.3% on a year-over-year basis. As a group, analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced 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 was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.3%. ConocoPhillips's dividend payout ratio is presently 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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