RWA Wealth Partners LLC Has $924,000 Holdings in ConocoPhillips $COP

RWA Wealth Partners LLC increased its holdings in ConocoPhillips (NYSE:COP) by 60.4% in the second quarter, HoldingsChannel reports. The firm owned 10,292 shares of the energy producer’s stock after purchasing an additional 3,877 shares during the period. RWA Wealth Partners LLC’s holdings in ConocoPhillips were worth $924,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted 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 lifted its holdings in ConocoPhillips by 1.4% in 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 purchasing an additional 437,709 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in ConocoPhillips by 30.2% during the first 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 period. Ameriprise Financial Inc. boosted its position in ConocoPhillips by 15.1% during the first quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock worth $861,490,000 after purchasing an additional 1,073,906 shares during the period. Finally, Nuveen LLC acquired a new position in ConocoPhillips during the first quarter valued at approximately $658,981,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on COP. The Goldman Sachs Group reduced their price objective on shares of ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, October 17th. Weiss Ratings upgraded shares of ConocoPhillips from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. Wolfe Research reaffirmed an “outperform” rating and issued a $131.00 price target on shares of ConocoPhillips in a research report on Thursday. Royal Bank Of Canada boosted their price objective on ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. Finally, Jefferies Financial Group decreased their target price on ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Eighteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $114.54.

ConocoPhillips Price Performance

Shares of COP stock opened at $86.82 on Monday. The stock has a 50 day moving average of $91.58 and a two-hundred day moving average of $92.01. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38. The company has a market capitalization of $108.43 billion, a P/E ratio of 11.65, a P/E/G ratio of 2.36 and a beta of 0.58.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. The business had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.ConocoPhillips’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.78 earnings per share. As a group, equities analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a $0.84 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Monday, November 17th. This represents a $3.36 annualized dividend and a yield of 3.9%. ConocoPhillips’s payout ratio is presently 47.52%.

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.