RMR Wealth Builders Raises Stock Holdings in ConocoPhillips $COP

Key Points

• RMR Wealth Builders increased its stake in ConocoPhillips by 442.9%, acquiring a total of 11,270 shares worth approximately $1,011,000 during the second quarter.
• The average price target for ConocoPhillips among analysts is $120.86, with 16 analysts rating the stock as a Buy.
• ConocoPhillips reported earnings of $1.42 EPS for its recent quarter, exceeding expectations, with revenue increasing by 4.3% year-over-year to $14.94 billion.

RMR Wealth Builders boosted its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 442.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,270 shares of the energy producer's stock after purchasing an additional 9,194 shares during the quarter. RMR Wealth Builders' holdings in ConocoPhillips were worth $1,011,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its position in ConocoPhillips by 379.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer's stock worth $4,210,751,000 after purchasing an additional 31,736,423 shares in the last quarter. Wellington Management Group LLP boosted its position in 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 purchasing an additional 437,709 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in ConocoPhillips by 30.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer's stock worth $942,297,000 after purchasing an additional 2,080,625 shares in the last quarter. Ameriprise Financial Inc. boosted its position in ConocoPhillips by 15.1% during the first 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 in the last quarter. Finally, Nuveen LLC purchased a new position in ConocoPhillips during the first quarter worth approximately $658,981,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on COP shares. Scotiabank increased 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. Roth Capital restated a "buy" rating on shares of ConocoPhillips in a research report on Wednesday, September 3rd. Wells Fargo & Company restated an "overweight" rating and issued a $117.00 target price (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Royal Bank Of Canada decreased their target price on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a research report on Friday, July 11th. Finally, Susquehanna decreased their target price on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Sixteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $120.86.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $92.60 on Monday. ConocoPhillips has a one year low of $79.88 and a one year high of $116.08. The company has a market cap of $115.65 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 2.43 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 business's 50 day moving average price is $94.75 and its 200 day moving average price is $92.92.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter last year, the business posted $1.98 earnings per share. The firm's revenue was up 4.3% compared to the same quarter last year. On average, research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date 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%.

About ConocoPhillips

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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