EverSource Wealth Advisors LLC Buys 15,453 Shares of ConocoPhillips (NYSE:COP)

EverSource Wealth Advisors LLC raised its holdings in ConocoPhillips (NYSE:COP) by 36.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58,204 shares of the energy producer’s stock after buying an additional 15,453 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in ConocoPhillips were worth $7,312,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its stake in ConocoPhillips by 35.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after buying an additional 8,479,963 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in ConocoPhillips by 512.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock valued at $433,757,000 after acquiring an additional 3,127,165 shares during the last quarter. Alphinity Investment Management Pty Ltd increased its position in ConocoPhillips by 78.2% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 4,611,763 shares of the energy producer’s stock valued at $535,287,000 after acquiring an additional 2,023,263 shares during the last quarter. Capital International Investors increased its position in ConocoPhillips by 9.6% during the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after acquiring an additional 1,856,085 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in ConocoPhillips by 3,931.3% in the first quarter. Assenagon Asset Management S.A. now owns 1,455,878 shares of the energy producer’s stock worth $185,304,000 after buying an additional 1,419,764 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Down 2.4 %

Shares of COP traded down $2.62 during mid-day trading on Friday, reaching $105.77. The company had a trading volume of 7,445,068 shares, compared to its average volume of 5,694,223. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 0.34. The stock has a market cap of $123.70 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 2.14 and a beta of 1.24. The firm has a fifty day simple moving average of $112.75 and a 200-day simple moving average of $117.04. ConocoPhillips has a fifty-two week low of $103.98 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.08). The firm had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.84 EPS. On average, sell-side analysts anticipate that ConocoPhillips will post 8.73 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Monday, August 12th. ConocoPhillips’s payout ratio is currently 26.27%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Wolfe Research initiated coverage on ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price objective for the company. Mizuho lowered their price objective on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research note on Wednesday, June 5th. Bank of America reaffirmed a “buy” rating and issued a $147.00 price objective on shares of ConocoPhillips in a research note on Friday, June 14th. Scotiabank reduced their price target on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Finally, Wells Fargo & Company reduced their price target on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.06.

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.