Assetmark Inc. Has $32.35 Million Stock Position in ConocoPhillips $COP

by · The Cerbat Gem

Assetmark Inc. boosted its holdings in ConocoPhillips (NYSE:COP – Free Report) by 25.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 360,466 shares of the energy producer’s stock after buying an additional 72,869 shares during the period. Assetmark Inc.’s holdings in ConocoPhillips were worth $32,348,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Clear Creek Financial Management LLC bought a new position in shares of ConocoPhillips during the 1st quarter worth about $232,000. DAVENPORT & Co LLC grew its position in ConocoPhillips by 43.7% during the first quarter. DAVENPORT & Co LLC now owns 81,099 shares of the energy producer’s stock worth $8,517,000 after buying an additional 24,658 shares in the last quarter. Keybank National Association OH increased its stake in ConocoPhillips by 2.0% during the first quarter. Keybank National Association OH now owns 317,068 shares of the energy producer’s stock valued at $33,298,000 after acquiring an additional 6,096 shares during the period. Pinnacle Financial Partners Inc increased its stake in ConocoPhillips by 4.0% during the first quarter. Pinnacle Financial Partners Inc now owns 17,139 shares of the energy producer’s stock valued at $1,773,000 after acquiring an additional 654 shares during the period. Finally, Private Trust Co. NA raised its holdings in ConocoPhillips by 5.9% in the 1st quarter. Private Trust Co. NA now owns 9,401 shares of the energy producer’s stock valued at $987,000 after acquiring an additional 527 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Melius Research assumed coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective on the stock. Capital One Financial raised their price objective on shares of ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Wolfe Research lowered their target price on shares of ConocoPhillips from $137.00 to $130.00 and set an “outperform” rating on the stock in a research note on Monday, October 20th. Susquehanna cut their price target on shares of ConocoPhillips to $113.00 and set a “positive” rating for the company in a research note on Monday, October 20th. Finally, Wall Street Zen downgraded ConocoPhillips from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Eighteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $115.63.

Read Our Latest Stock Analysis on COP

ConocoPhillips Stock Performance

NYSE COP opened at $88.11 on Friday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38. The company has a 50 day moving average of $92.81 and a 200-day moving average of $91.97. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The firm has a market cap of $110.04 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 2.36 and a beta of 0.62.

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 return on equity of 14.60% and a net margin of 15.26%.The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same period in the prior year, the company earned $1.98 EPS. ConocoPhillips’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a $0.78 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.5%. ConocoPhillips’s dividend payout ratio (DPR) is 41.88%.

ConocoPhillips Company Profile

(Free Report)

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.

Further Reading

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