Empower Advisory Group LLC Grows Holdings in ConocoPhillips $COP

Empower Advisory Group LLC increased its stake in ConocoPhillips (NYSE:COP) by 6.2% in the second quarter, Holdings Channel reports. The institutional investor owned 749,619 shares of the energy producer’s stock after acquiring an additional 43,841 shares during the quarter. Empower Advisory Group LLC’s holdings in ConocoPhillips were worth $67,271,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in COP. Kingsview Wealth Management LLC grew its position in shares of ConocoPhillips by 10.3% in the 1st quarter. Kingsview Wealth Management LLC now owns 29,783 shares of the energy producer’s stock worth $3,128,000 after acquiring an additional 2,770 shares in the last quarter. Carson Advisory Inc. bought a new position in ConocoPhillips during the first quarter worth $287,000. Hollencrest Capital Management boosted its holdings in ConocoPhillips by 23.6% in the first quarter. Hollencrest Capital Management now owns 5,241 shares of the energy producer’s stock worth $550,000 after purchasing an additional 1,002 shares during the period. Private Advisor Group LLC increased its stake in ConocoPhillips by 7.4% during the first quarter. Private Advisor Group LLC now owns 85,254 shares of the energy producer’s stock valued at $8,953,000 after purchasing an additional 5,874 shares during the last quarter. Finally, Allegiance Financial Group Advisory Services LLC acquired a new stake in shares of ConocoPhillips during the first quarter worth $450,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ConocoPhillips

In related news, Director William H. Mcraven purchased 5,768 shares of the company’s stock in a transaction on Monday, November 10th. The shares were bought at an average cost of $86.68 per share, for a total transaction of $499,970.24. Following the transaction, the director owned 5,768 shares of the company’s stock, valued at $499,970.24. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.24% of the company’s stock.

ConocoPhillips Stock Up 2.3%

COP opened at $91.44 on Friday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a market cap of $112.99 billion, a P/E ratio of 12.27, a P/E/G ratio of 2.36 and a beta of 0.58. The stock’s 50 day moving average price is $90.93 and its 200 day moving average price is $91.93.

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

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, November 17th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s dividend payout ratio is 47.52%.

Analyst Ratings Changes

COP has been the subject of several research reports. Roth Capital decreased their price target on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. 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. JPMorgan Chase & Co. dropped their price target on ConocoPhillips from $115.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday, November 7th. UBS Group cut their price target on ConocoPhillips from $122.00 to $117.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Melius Research assumed coverage on ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective for the company. Eighteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.33.

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.