Hudson Edge Investment Partners Inc. Grows Position in ConocoPhillips $COP

Hudson Edge Investment Partners Inc. boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 2.4% during the 2nd quarter, Holdings Channel reports. The fund owned 50,564 shares of the energy producer’s stock after buying an additional 1,202 shares during the period. Hudson Edge Investment Partners Inc.’s holdings in ConocoPhillips were worth $4,538,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Tritonpoint Wealth LLC increased its holdings in ConocoPhillips by 1.3% during the second quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock valued at $747,000 after buying an additional 110 shares during the period. First National Bank Sioux Falls lifted its holdings in ConocoPhillips by 4.6% during the second quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock worth $231,000 after buying an additional 113 shares during the period. KLCM Advisors Inc. boosted its position in ConocoPhillips by 2.6% during the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock valued at $473,000 after acquiring an additional 115 shares in the last quarter. Deseret Mutual Benefit Administrators increased its holdings in shares of ConocoPhillips by 3.9% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer’s stock valued at $334,000 after acquiring an additional 118 shares during the period. Finally, Oregon Pacific Wealth Management LLC increased its holdings in shares of ConocoPhillips by 5.8% in the 2nd quarter. Oregon Pacific Wealth Management LLC now owns 2,229 shares of the energy producer’s stock valued at $200,000 after acquiring an additional 123 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Melius initiated coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price for the company. Morgan Stanley restated an “overweight” rating and issued a $123.00 price target (up from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Citigroup cut their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, June 11th. Finally, Scotiabank increased their target price on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Sixteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.14.

ConocoPhillips Price Performance

Shares of COP stock opened at $93.45 on Friday. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The firm has a market capitalization of $116.71 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 2.51 and a beta of 0.62. The stock’s 50-day simple moving average is $94.94 and its 200-day simple moving average is $92.96.

ConocoPhillips (NYSE:COP) last released 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 company had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. ConocoPhillips’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the business earned $1.98 EPS. As a group, equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

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

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.