Synergy Asset Management LLC Has $1.47 Million Position in ConocoPhillips $COP

Key Points

• Synergy Asset Management LLC increased its stake in ConocoPhillips by 34.7% during Q2, holding a total of 16,425 shares valued at approximately $1.47 million.
• Institutional investors own 82.36% of ConocoPhillips' stock, indicating strong institutional confidence in the company.
• ConocoPhillips recently reported a Q2 EPS of $1.42, exceeding expectations and achieving a revenue of $14.94 billion, which represents a 4.3% year-over-year increase.

Synergy Asset Management LLC raised its position in ConocoPhillips (NYSE:COP - Free Report) by 34.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,425 shares of the energy producer's stock after acquiring an additional 4,231 shares during the quarter. Synergy Asset Management LLC's holdings in ConocoPhillips were worth $1,474,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in COP. NBC Securities Inc. lifted its stake in ConocoPhillips by 114,680.0% in the first quarter. NBC Securities Inc. now owns 5,739 shares of the energy producer's stock valued at $602,000 after acquiring an additional 5,734 shares during the last quarter. RFG Advisory LLC lifted its stake in ConocoPhillips by 71.0% in the first quarter. RFG Advisory LLC now owns 12,400 shares of the energy producer's stock valued at $1,302,000 after acquiring an additional 5,149 shares during the last quarter. Apella Capital LLC lifted its stake in ConocoPhillips by 124.0% in the first quarter. Apella Capital LLC now owns 7,566 shares of the energy producer's stock valued at $795,000 after acquiring an additional 4,189 shares during the last quarter. HF Advisory Group LLC raised its position in shares of ConocoPhillips by 6.7% in the first quarter. HF Advisory Group LLC now owns 17,410 shares of the energy producer's stock valued at $1,828,000 after purchasing an additional 1,094 shares during the period. Finally, Naples Global Advisors LLC raised its position in shares of ConocoPhillips by 3.6% in the first quarter. Naples Global Advisors LLC now owns 16,467 shares of the energy producer's stock valued at $1,729,000 after purchasing an additional 565 shares during the period. Institutional investors and hedge funds own 82.36% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on COP shares. Wall Street Zen raised shares of ConocoPhillips from a "sell" rating to a "hold" rating in a research report on Saturday, September 20th. Royal Bank Of Canada dropped their price objective on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a research report on Friday, July 11th. Susquehanna dropped their price objective on shares of ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. 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 objective on the stock. Finally, BMO Capital Markets increased their price objective on shares of ConocoPhillips from $113.00 to $115.00 and gave the company an "outperform" rating in a research report on Monday, September 22nd. Sixteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of "Moderate Buy" and an average price target of $120.14.

ConocoPhillips Price Performance

NYSE:COP opened at $93.45 on Friday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08. The firm has a market cap of $116.71 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 2.51 and a beta of 0.62. The firm's 50-day simple moving average is $94.94 and its 200 day simple moving average is $92.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results 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 net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same period last year, the firm earned $1.98 earnings per share. ConocoPhillips's revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared 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. This represents a $3.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips's dividend payout ratio (DPR) is currently 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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