Kingsview Wealth Management LLC Buys 2,649 Shares of ConocoPhillips $COP

Kingsview Wealth Management LLC lifted its stake in ConocoPhillips (NYSE:COP) by 8.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,432 shares of the energy producer’s stock after purchasing an additional 2,649 shares during the period. Kingsview Wealth Management LLC’s holdings in ConocoPhillips were worth $2,910,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Financial Network Wealth Advisors LLC raised its stake in ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after buying an additional 222 shares in the last quarter. Stone House Investment Management LLC purchased a new position in shares of ConocoPhillips during the 1st quarter worth approximately $31,000. Bogart Wealth LLC raised its position in shares of ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after acquiring an additional 182 shares in the last quarter. Activest Wealth Management raised its position in shares of ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after acquiring an additional 232 shares in the last quarter. Finally, IMA Advisory Services Inc. purchased a new stake in ConocoPhillips in the first quarter worth $37,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

NYSE:COP opened at $89.64 on Wednesday. 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. The business’s 50-day simple moving average is $90.83 and its two-hundred day simple moving average is $91.93. The stock has a market cap of $110.77 billion, a PE ratio of 12.03, a P/E/G ratio of 2.36 and a beta of 0.58.

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

ConocoPhillips Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on COP. 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 research report on Wednesday, October 15th. Raymond James Financial dropped their price objective on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Barclays decreased their target price on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, The Goldman Sachs Group lowered their price target on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, October 17th. Eighteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $115.33.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director William H. Mcraven acquired 5,768 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was bought at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the acquisition, the director directly owned 5,768 shares in the company, valued at $499,970.24. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.24% of the company’s stock.

About ConocoPhillips

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.