Mattern Wealth Management LLC Has $408,000 Stock Position in ConocoPhillips $COP

Mattern Wealth Management LLC lowered its stake in shares of ConocoPhillips (NYSE:COP) by 9.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,543 shares of the energy producer’s stock after selling 500 shares during the period. Mattern Wealth Management LLC’s holdings in ConocoPhillips were worth $408,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. HCR Wealth Advisors raised its stake in ConocoPhillips by 2.7% in the 2nd quarter. HCR Wealth Advisors now owns 36,506 shares of the energy producer’s stock valued at $3,276,000 after acquiring an additional 944 shares during the period. Capital Investment Advisors LLC grew its holdings in shares of ConocoPhillips by 2.5% during the 2nd quarter. Capital Investment Advisors LLC now owns 17,362 shares of the energy producer’s stock worth $1,558,000 after purchasing an additional 423 shares in the last quarter. LexAurum Advisors LLC grew its holdings in shares of ConocoPhillips by 3.6% during the 2nd quarter. LexAurum Advisors LLC now owns 4,293 shares of the energy producer’s stock worth $385,000 after purchasing an additional 149 shares in the last quarter. Oakworth Capital Inc. grew its holdings in shares of ConocoPhillips by 46.1% during the 2nd quarter. Oakworth Capital Inc. now owns 3,753 shares of the energy producer’s stock worth $337,000 after purchasing an additional 1,184 shares in the last quarter. Finally, Invesco LLC boosted its stake in ConocoPhillips by 1.7% in the second quarter. Invesco LLC now owns 9,197 shares of the energy producer’s stock valued at $825,000 after buying an additional 152 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on COP. Royal Bank Of Canada dropped their target price on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating for the company in a research report on Friday, July 11th. Roth Capital restated a “buy” rating on shares of ConocoPhillips in a research report on Wednesday, September 3rd. Scotiabank lifted their target price on ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a report on Friday, July 11th. UBS Group lifted their target price on ConocoPhillips from $116.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Finally, Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Sixteen investment 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 an average price target of $120.14.

ConocoPhillips Stock Down 2.8%

Shares of NYSE:COP opened at $95.72 on Tuesday. The stock has a market cap of $119.55 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 2.59 and a beta of 0.69. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08. The business’s 50 day moving average is $94.95 and its 200 day moving average is $92.97.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. During the same quarter in the previous year, the firm earned $1.98 earnings per share. ConocoPhillips’s quarterly revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given 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 3.3%. ConocoPhillips’s payout ratio is currently 41.88%.

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.