Great Lakes Retirement Inc. Raises Stock Position in ConocoPhillips $COP

by · The Cerbat Gem

Great Lakes Retirement Inc. boosted its holdings in ConocoPhillips (NYSE:COP – Free Report) by 8.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 30,032 shares of the energy producer’s stock after buying an additional 2,255 shares during the period. Great Lakes Retirement Inc.’s holdings in ConocoPhillips were worth $2,695,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of COP. Financial Network Wealth Advisors LLC grew 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 purchasing an additional 222 shares in the last quarter. Stone House Investment Management LLC purchased a new position in shares of ConocoPhillips during the first quarter valued at about $31,000. Bogart Wealth LLC grew its position in shares of ConocoPhillips by 136.8% during the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after purchasing an additional 182 shares in the last quarter. Activest Wealth Management grew its position in shares of ConocoPhillips by 249.5% during the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 232 shares in the last quarter. Finally, IMA Advisory Services Inc. purchased a new position in shares of ConocoPhillips during the first quarter valued at about $37,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 1.0%

Shares of NYSE:COP opened at $88.99 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38. The company has a 50-day moving average price of $92.66 and a 200 day moving average price of $91.99. The company has a market cap of $111.14 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 2.36 and a beta of 0.62.

ConocoPhillips (NYSE:COP – Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 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 during the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter last year, the firm earned $1.98 EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company 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 annualized dividend and a yield of 3.5%. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Barclays cut their price objective on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Jefferies Financial Group cut their price objective on ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 13th. The Goldman Sachs Group cut their price objective on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, October 17th. Roth Capital lowered their price target on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. Finally, Raymond James Financial lowered their price target on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, September 8th. Eighteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.63.

Get Our Latest Stock Report on COP

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.

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