Empirical Financial Services LLC d.b.a. Empirical Wealth Management Acquires 1,124 Shares of ConocoPhillips $COP

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in ConocoPhillips (NYSE:COP) by 6.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,719 shares of the energy producer’s stock after purchasing an additional 1,124 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in ConocoPhillips were worth $1,770,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. raised its stake in shares of ConocoPhillips by 379.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after acquiring an additional 31,736,423 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of ConocoPhillips by 1.4% during the 1st quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock worth $3,319,746,000 after acquiring an additional 437,709 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of ConocoPhillips by 30.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after acquiring an additional 2,080,625 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of ConocoPhillips by 15.1% during the 1st quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock worth $861,490,000 after acquiring an additional 1,073,906 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of ConocoPhillips during the 1st quarter worth approximately $658,981,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $94.17 on Friday. The company’s fifty day moving average price is $94.92 and its 200 day moving average price is $92.85. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. The company has a market capitalization of $117.61 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 2.48 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27.

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

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a yield of 3.3%. ConocoPhillips’s dividend payout ratio is currently 41.88%.

Analyst Ratings Changes

COP has been the topic of a number of recent analyst reports. Melius initiated coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target on the stock. Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. BMO Capital Markets upped their price target on shares of ConocoPhillips from $113.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Scotiabank upped their price target on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research note on Friday, July 11th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $119.77.

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.