BIP Wealth LLC Has $326,000 Stock Holdings in ConocoPhillips $COP

BIP Wealth LLC reduced its position in shares of ConocoPhillips (NYSE:COP) by 8.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,628 shares of the energy producer’s stock after selling 319 shares during the quarter. BIP Wealth LLC’s holdings in ConocoPhillips were worth $326,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in ConocoPhillips by 379.7% in the 1st 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 period. Nuveen LLC bought a new stake in shares of ConocoPhillips in the first quarter worth $658,981,000. AQR Capital Management LLC increased its holdings 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 purchasing an additional 3,058,505 shares during the period. Goldman Sachs Group Inc. raised its position in 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 purchasing an additional 2,080,625 shares during the last quarter. Finally, Deutsche Bank AG raised its position in ConocoPhillips by 53.8% during the 1st quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer’s stock worth $550,334,000 after purchasing an additional 1,834,118 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on COP. Melius began coverage on ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target for the company. BMO Capital Markets increased their target price on shares of ConocoPhillips from $115.00 to $117.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Wall Street Zen downgraded shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Weiss Ratings lowered shares of ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Finally, Evercore ISI lowered their target price on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research note on Monday, October 6th. Eighteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $115.63.

ConocoPhillips Stock Performance

NYSE:COP opened at $88.01 on Friday. 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 twelve month low of $79.88 and a twelve month high of $115.38. The company has a fifty day moving average of $93.32 and a 200-day moving average of $91.98. The firm has a market capitalization of $109.92 billion, a P/E ratio of 11.81, a P/E/G ratio of 2.35 and a beta of 0.62.

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

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio is presently 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.