Hutchinson Financial Advisors INC Invests $1.49 Million in ConocoPhillips $COP

Hutchinson Financial Advisors INC purchased a new position in ConocoPhillips (NYSE:COP) during the 2nd quarter, HoldingsChannel reports. The firm purchased 16,641 shares of the energy producer’s stock, valued at approximately $1,493,000. ConocoPhillips accounts for about 0.6% of Hutchinson Financial Advisors INC’s portfolio, making the stock its 28th largest holding.

Several other hedge funds have also made changes to their positions in COP. Aberdeen Group plc grew its holdings in shares of ConocoPhillips by 49.3% in the 1st quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock worth $83,969,000 after acquiring an additional 264,726 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of ConocoPhillips by 17.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer’s stock worth $13,927,000 after acquiring an additional 22,827 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of ConocoPhillips by 2.4% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,395,546 shares of the energy producer’s stock worth $304,716,000 after acquiring an additional 78,642 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its holdings in shares of ConocoPhillips by 17.7% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 37,361 shares of the energy producer’s stock worth $3,924,000 after acquiring an additional 5,627 shares during the last quarter. Finally, Lynx Investment Advisory grew its holdings in shares of ConocoPhillips by 316.6% during the first quarter. Lynx Investment Advisory now owns 10,769 shares of the energy producer’s stock valued at $1,131,000 after buying an additional 8,184 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 1.0%

Shares of COP opened at $88.99 on Friday. The firm has a market capitalization of $111.14 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 2.36 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. The business’s fifty day moving average price is $92.66 and its two-hundred day moving average price is $91.99. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping 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 business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same period last year, the company earned $1.98 EPS. The firm’s revenue was up 4.3% on a year-over-year basis. On average, analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.5%. ConocoPhillips’s dividend payout ratio (DPR) is currently 41.88%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Weiss Ratings downgraded ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 24th. Barclays lowered their target price on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Melius Research assumed coverage on ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price on the stock. Wall Street Zen downgraded ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Finally, Wells Fargo & Company assumed coverage on ConocoPhillips in a research note on Friday, October 17th. They set an “equal weight” rating and a $100.00 price target for the company. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.63.

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.