Johnson Financial Group Inc. Takes Position in ConocoPhillips $COP

Key Points

• Johnson Financial Group purchased 7,871 ConocoPhillips shares worth approximately $818,000 in the second quarter. Institutional investors collectively own 82.36% of the company.
• ConocoPhillips exceeded quarterly expectations, reporting $3.24 in EPS and $19.52 billion in revenue, with revenue rising 32.4% year over year.
• The company declared a quarterly dividend of $0.84, equivalent to $3.36 annually and a 2.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $139.21.

Johnson Financial Group Inc. purchased a new position in shares of ConocoPhillips (NYSE:COP - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,871 shares of the energy producer's stock, valued at approximately $818,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Patten Group Inc. boosted its holdings in ConocoPhillips by 1.5% in the 1st quarter. Patten Group Inc. now owns 5,447 shares of the energy producer's stock worth $719,000 after buying an additional 83 shares during the last quarter. IFC Advisors LLC raised its holdings in shares of ConocoPhillips by 0.4% during the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer's stock valued at $2,664,000 after acquiring an additional 84 shares during the last quarter. Cornerstone Planning Group LLC lifted its position in shares of ConocoPhillips by 9.6% in the first quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer's stock valued at $124,000 after acquiring an additional 88 shares in the last quarter. Blue Trust Inc. lifted its position in shares of ConocoPhillips by 0.4% in the first quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer's stock valued at $2,791,000 after acquiring an additional 92 shares in the last quarter. Finally, Sigma Planning Corp boosted its stake in shares of ConocoPhillips by 0.6% in the first quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer's stock worth $2,120,000 after acquiring an additional 94 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

NYSE:COP opened at $130.72 on Thursday. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87. The stock has a market cap of $157.04 billion, a PE ratio of 17.29, a P/E/G ratio of 1.43 and a beta of 0.11. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. The stock has a 50 day moving average price of $114.53 and a 200 day moving average price of $117.32.

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

ConocoPhillips Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently commented on COP. Wall Street Zen upgraded ConocoPhillips from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Roth Capital upgraded ConocoPhillips from a "neutral" rating to a "buy" rating and raised their price objective for the company from $124.00 to $130.00 in a report on Monday, June 22nd. Freedom Capital raised shares of ConocoPhillips from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Zacks Research lowered shares of ConocoPhillips from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 27th. Finally, BMO Capital Markets reduced their target price on shares of ConocoPhillips from $140.00 to $135.00 and set an "outperform" rating for the company in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $139.21.

About ConocoPhillips

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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