Global Retirement Partners LLC Takes Position in ConocoPhillips $COP

Global Retirement Partners LLC bought a new position in shares of ConocoPhillips (NYSE:COP - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 33,216 shares of the energy producer's stock, valued at approximately $3,453,000.

Several other institutional investors have also added to or reduced their stakes in the company. Silverlake Wealth Management LLC lifted its holdings in shares of ConocoPhillips by 6.3% during the second quarter. Silverlake Wealth Management LLC now owns 3,905 shares of the energy producer's stock worth $406,000 after buying an additional 231 shares in the last quarter. Bank of New York Mellon Corp raised its stake in ConocoPhillips by 7.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 10,925,055 shares of the energy producer's stock worth $1,135,769,000 after purchasing an additional 743,105 shares in the last quarter. Kelleher Financial Advisors boosted its holdings in ConocoPhillips by 40.6% in the 2nd quarter. Kelleher Financial Advisors now owns 634 shares of the energy producer's stock valued at $66,000 after purchasing an additional 183 shares during the period. Russell Investments Group Ltd. grew its position in shares of ConocoPhillips by 13.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,526,837 shares of the energy producer's stock worth $158,736,000 after purchasing an additional 177,578 shares in the last quarter. Finally, TFR Capital LLC. increased its holdings in shares of ConocoPhillips by 0.6% during the second quarter. TFR Capital LLC. now owns 17,780 shares of the energy producer's stock worth $1,848,000 after purchasing an additional 109 shares during the period. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Up 0.7%

Shares of NYSE:COP opened at $127.64 on Tuesday. The firm has a market cap of $153.34 billion, a P/E ratio of 16.88, a P/E/G ratio of 1.40 and a beta of 0.11. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87. The business has a fifty day simple moving average of $114.05 and a 200 day simple moving average of $116.92. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.34. The company had revenue of $19.52 billion during the quarter, compared to analysts' expectations of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business's quarterly revenue was up 32.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.42 earnings per share. Analysts predict that ConocoPhillips will post 10.05 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips's dividend payout ratio is currently 44.44%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Morgan Stanley restated an "overweight" rating and set a $147.00 price objective on shares of ConocoPhillips in a research note on Friday, August 7th. Scotiabank upped their price objective on shares of ConocoPhillips from $100.00 to $125.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. UBS Group boosted their target price on shares of ConocoPhillips from $143.00 to $153.00 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. BMO Capital Markets dropped their price target on ConocoPhillips from $140.00 to $135.00 and set an "outperform" rating for the company in a research note on Wednesday, May 13th. Finally, Wall Street Zen raised ConocoPhillips from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $137.48.

ConocoPhillips Company Profile

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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