Fragasso Financial Advisors Inc Buys 413 Shares of ConocoPhillips $COP

Fragasso Financial Advisors Inc increased its stake in shares of ConocoPhillips (NYSE:COP) by 14.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,219 shares of the energy producer’s stock after acquiring an additional 413 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in ConocoPhillips were worth $289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. 10Elms LLP bought a new position in ConocoPhillips during the 4th quarter worth approximately $28,000. Financial Network Wealth Advisors LLC lifted its holdings in ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after buying an additional 222 shares during the period. Stone House Investment Management LLC purchased a new stake in ConocoPhillips in the 1st quarter worth approximately $31,000. Garde Capital Inc. purchased a new stake in ConocoPhillips in the 1st quarter worth approximately $35,000. Finally, IMA Advisory Services Inc. purchased a new stake in ConocoPhillips in the 1st quarter worth approximately $37,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Up 2.3%

ConocoPhillips stock opened at $94.48 on Wednesday. The firm has a market cap of $118.00 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 2.43 and a beta of 0.69. The stock has a fifty day simple moving average of $94.72 and a two-hundred day simple moving average of $92.89. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. 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 (NYSE:COP) last posted its 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. The business had revenue of $14.94 billion during 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 company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.98 EPS. Equities analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Bank of America dropped their price objective on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Melius Research assumed coverage on ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective for the company. Roth Capital reiterated a “buy” rating on shares of ConocoPhillips in a report on Wednesday, September 3rd. Raymond James Financial dropped their price objective on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, September 8th. Finally, Citigroup dropped their price objective on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, June 11th. Sixteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.62.

ConocoPhillips 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.