Kovack Advisors Inc. Has $442,000 Position in ConocoPhillips (NYSE:COP)

Key Points

• Kovack Advisors Inc. has significantly reduced its stake in ConocoPhillips by 82.5%, now holding 4,213 shares worth $442,000.
• The company recently reported $2.09 earnings per share for the last quarter, which surpassed analysts' expectations of $2.05.
• ConocoPhillips has declared a quarterly dividend of $0.78, representing an annualized yield of 3.29%.

Kovack Advisors Inc. reduced its stake in ConocoPhillips (NYSE:COP - Free Report) by 82.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,213 shares of the energy producer's stock after selling 19,847 shares during the quarter. Kovack Advisors Inc.'s holdings in ConocoPhillips were worth $442,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Argonautica Private Wealth Management Inc. lifted its holdings in ConocoPhillips by 1.4% in the 1st quarter. Argonautica Private Wealth Management Inc. now owns 22,521 shares of the energy producer's stock worth $2,365,000 after purchasing an additional 307 shares during the last quarter. Carnegie Investment Counsel lifted its holdings in ConocoPhillips by 5.3% in the 1st quarter. Carnegie Investment Counsel now owns 18,007 shares of the energy producer's stock worth $1,891,000 after purchasing an additional 902 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in ConocoPhillips by 0.5% in the 1st quarter. Pinnacle Associates Ltd. now owns 87,031 shares of the energy producer's stock worth $9,140,000 after purchasing an additional 409 shares during the last quarter. Unison Advisors LLC lifted its holdings in ConocoPhillips by 0.7% in the 1st quarter. Unison Advisors LLC now owns 17,271 shares of the energy producer's stock worth $1,814,000 after purchasing an additional 126 shares during the last quarter. Finally, Guardian Wealth Management Inc. lifted its holdings in ConocoPhillips by 64.8% in the 1st quarter. Guardian Wealth Management Inc. now owns 30,269 shares of the energy producer's stock worth $3,179,000 after purchasing an additional 11,907 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

Shares of COP stock opened at $94.96 on Friday. The stock's fifty day simple moving average is $91.14 and its 200 day simple moving average is $94.38. ConocoPhillips has a one year low of $79.88 and a one year high of $116.08. The firm has a market cap of $120.04 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 2.49 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The firm had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. During the same period in the prior year, the business posted $2.05 earnings per share. On average, analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is 39.64%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Scotiabank lifted their price target on ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Raymond James Financial lifted their price target on ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a research report on Tuesday. Royal Bank Of Canada dropped their price target on 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 $119.00 price target on shares of ConocoPhillips in a research report on Tuesday, July 15th. Finally, Citigroup dropped their price target on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday, June 11th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $121.33.

Insiders Place Their Bets

In related news, EVP Kirk L. Johnson purchased 5,300 shares of the stock in a transaction on Monday, June 16th. The shares were purchased at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the transaction, the executive vice president directly owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is owned by company insiders.

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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