Waverly Advisors LLC Buys 9,368 Shares of ConocoPhillips $COP

Key Points

• Waverly Advisors increased its ConocoPhillips stake by 16.9% in the first quarter, purchasing 9,368 additional shares and bringing its holdings to 64,690 shares valued at approximately $8.54 million. Institutional investors collectively own 82.36% of COP.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $134.16. Recent targets range from $143 to $155, although some firms downgraded or reaffirmed a hold rating.
• ConocoPhillips beat quarterly earnings expectations, reporting $1.89 in EPS versus the $1.72 consensus, while revenue declined 6.1% year over year to $15.76 billion. The company pays a quarterly dividend of $0.84, yielding about 2.9% annually.

Waverly Advisors LLC grew its stake in ConocoPhillips (NYSE:COP - Free Report) by 16.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,690 shares of the energy producer's stock after purchasing an additional 9,368 shares during the period. Waverly Advisors LLC's holdings in ConocoPhillips were worth $8,539,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in COP. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of ConocoPhillips in the fourth quarter valued at $25,000. Strive Asset Management LLC acquired a new stake in ConocoPhillips during the third quarter worth $28,000. Frazier Financial Advisors LLC boosted its stake in ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer's stock worth $32,000 after buying an additional 145 shares in the last quarter. BNP Paribas bought a new stake in ConocoPhillips in the 2nd quarter valued at $33,000. Finally, Optima Capital LLC bought a new stake in ConocoPhillips in the 4th quarter valued at $34,000. Institutional investors own 82.36% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of ConocoPhillips in a report on Wednesday, June 3rd. UBS Group lowered their target price on shares of ConocoPhillips from $155.00 to $143.00 and set a "buy" rating on the stock in a research note on Wednesday, July 8th. Citigroup increased their price target on shares of ConocoPhillips from $135.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, April 2nd. Zacks Research cut shares of ConocoPhillips from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 27th. Finally, Susquehanna lifted their price objective on ConocoPhillips from $152.00 to $155.00 and gave the company a "positive" rating in a report on Tuesday, July 21st. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $134.16.

ConocoPhillips Stock Performance

NYSE COP opened at $115.54 on Tuesday. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.87. The company has a 50 day moving average of $113.32 and a 200-day moving average of $114.46. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The firm has a market cap of $140.76 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 1.45 and a beta of 0.12.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion during the quarter, compared to analysts' expectations of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business's revenue was down 6.1% on a year-over-year basis. During the same period last year, the firm posted $2.09 EPS. On average, equities analysts forecast that ConocoPhillips will post 9.2 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips's dividend payout ratio (DPR) is 57.05%.

ConocoPhillips Profile

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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