Keystone Financial Services Purchases 3,855 Shares of ConocoPhillips $COP

Keystone Financial Services raised its holdings in shares of ConocoPhillips (NYSE:COP) by 69.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,443 shares of the energy producer’s stock after acquiring an additional 3,855 shares during the quarter. Keystone Financial Services’ holdings in ConocoPhillips were worth $847,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. RWA Wealth Partners LLC lifted its position in ConocoPhillips by 60.4% during the 2nd quarter. RWA Wealth Partners LLC now owns 10,292 shares of the energy producer’s stock worth $924,000 after buying an additional 3,877 shares in the last quarter. AGF Management Ltd. acquired a new stake in ConocoPhillips in the 2nd quarter worth about $3,274,000. AE Wealth Management LLC raised its stake in ConocoPhillips by 164.5% in the second quarter. AE Wealth Management LLC now owns 49,843 shares of the energy producer’s stock valued at $4,473,000 after purchasing an additional 31,000 shares in the last quarter. Paradigm Asset Management Co. LLC lifted its position in shares of ConocoPhillips by 2.5% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 12,200 shares of the energy producer’s stock worth $1,095,000 after buying an additional 300 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of ConocoPhillips in the 2nd quarter valued at $340,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $86.82 on Friday. The firm has a 50 day moving average of $91.58 and a 200-day moving average of $91.98. The company has a market cap of $108.43 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58. 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 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, November 6th. The energy producer reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.20. The firm had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business’s revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.78 earnings per share. On average, equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 3.9%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Monday, November 17th. ConocoPhillips’s payout ratio is 41.88%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Evercore ISI dropped their target price on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research report on Monday, October 6th. Roth Capital reduced their target price on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Melius started coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target for the company. Raymond James Financial cut their price target on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Finally, Weiss Ratings downgraded ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 24th. Eighteen investment 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, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $114.67.

ConocoPhillips 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.