Park Avenue Securities LLC Has $3.66 Million Position in ConocoPhillips $COP

Key Points

• Park Avenue Securities LLC increased its stake in ConocoPhillips by 8.9% in Q2, holding 40,744 shares worth approximately $3.66 million.
• Institutional investors, including Financial Network Wealth Advisors LLC and Clal Insurance Enterprises Holdings Ltd, have significantly increased their positions in ConocoPhillips in recent quarters, leading to an overall 82.36% ownership by such investors.
• ConocoPhillips reported a Q2 EPS of $1.42, exceeding analysts' expectations, and announced a quarterly dividend of $0.78 with a yield of 3.4%.

Park Avenue Securities LLC grew its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 8.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 40,744 shares of the energy producer's stock after buying an additional 3,346 shares during the period. Park Avenue Securities LLC's holdings in ConocoPhillips were worth $3,656,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Financial Network Wealth Advisors LLC raised its position in shares of ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock valued at $30,000 after buying an additional 222 shares during the last quarter. Stone House Investment Management LLC acquired a new position in ConocoPhillips in the first quarter worth about $31,000. Garde Capital Inc. acquired a new position in ConocoPhillips in the first quarter worth about $35,000. IMA Advisory Services Inc. acquired a new position in ConocoPhillips in the first quarter worth about $37,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its position in ConocoPhillips by 418.6% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer's stock worth $38,000 after purchasing an additional 293 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Wall Street Analyst Weigh In

COP has been the subject of several recent research reports. Morgan Stanley reissued an "overweight" rating and issued a $123.00 price target (up previously from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Wells Fargo & Company reissued an "overweight" rating and issued a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Citigroup dropped their price target on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Melius Research started coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They issued a "hold" rating and a $117.00 price target for the company. Finally, Wall Street Zen raised shares of ConocoPhillips from a "sell" rating to a "hold" rating in a research note on Saturday. 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, ConocoPhillips presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.14.

ConocoPhillips Price Performance

Shares of COP stock opened at $92.11 on Tuesday. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08. The stock has a market cap of $115.04 billion, a PE ratio of 12.36, a PEG ratio of 2.42 and a beta of 0.69. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The firm's 50 day moving average price is $94.55 and its two-hundred day moving average price is $92.98.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $14.94 billion for the quarter, compared to analysts' expectations of $14.39 billion. During the same period last year, the firm earned $1.98 earnings per share. The business's revenue for the quarter was up 4.3% on a year-over-year basis. As a group, analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

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

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