Parisi Gray Wealth Management Buys 148 Shares of ConocoPhillips $COP

Parisi Gray Wealth Management increased its stake in ConocoPhillips (NYSE:COP) by 7.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,275 shares of the energy producer’s stock after purchasing an additional 148 shares during the period. Parisi Gray Wealth Management’s holdings in ConocoPhillips were worth $204,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COP. Charles Schwab Investment Management Inc. grew its position in ConocoPhillips by 379.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after acquiring an additional 31,736,423 shares during the last quarter. Nuveen LLC bought a new position in ConocoPhillips in the first quarter valued at about $658,981,000. AQR Capital Management LLC grew its position in ConocoPhillips by 190.5% in the first quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock valued at $484,539,000 after acquiring an additional 3,058,505 shares during the last quarter. GAMMA Investing LLC grew its position in ConocoPhillips by 10,440.1% in the first quarter. GAMMA Investing LLC now owns 2,964,189 shares of the energy producer’s stock valued at $311,299,000 after acquiring an additional 2,936,066 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in ConocoPhillips by 30.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after acquiring an additional 2,080,625 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $92.60 on Monday. The stock’s 50 day moving average is $94.75 and its 200 day moving average is $92.92. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The firm has a market cap of $115.65 billion, a P/E ratio of 12.43, a P/E/G ratio of 2.43 and a beta of 0.69. ConocoPhillips has a one year low of $79.88 and a one year high of $116.08.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The company had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.98 earnings per share. As a group, research analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared 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 3.4%. ConocoPhillips’s payout ratio is 41.88%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wall Street Zen cut ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Friday, August 22nd. Susquehanna reduced their price target on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a report on Wednesday, July 23rd. Morgan Stanley restated an “overweight” rating and set a $123.00 price target (up from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. UBS Group boosted their price target on ConocoPhillips from $116.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Finally, Citigroup reduced their price target on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, June 11th. Sixteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $120.86.

ConocoPhillips Company Profile

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.