Diversify Advisory Services LLC Acquires Shares of 18,812 ConocoPhillips $COP

Diversify Advisory Services LLC acquired a new stake in ConocoPhillips (NYSE:COP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 18,812 shares of the energy producer’s stock, valued at approximately $2,174,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of COP. Patten Group Inc. raised its holdings in ConocoPhillips by 1.5% during the 1st quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock valued at $719,000 after buying an additional 83 shares during the period. IFC Advisors LLC boosted its stake in ConocoPhillips by 0.4% during the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock worth $2,664,000 after buying an additional 84 shares during the period. Cornerstone Planning Group LLC increased its position in ConocoPhillips by 9.6% during the first quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock valued at $124,000 after acquiring an additional 88 shares during the last quarter. Blue Trust Inc. increased its position in ConocoPhillips by 0.4% during the first quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock valued at $2,791,000 after acquiring an additional 92 shares during the last quarter. Finally, Sigma Planning Corp increased its position in ConocoPhillips by 0.6% during the first quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer’s stock valued at $2,120,000 after acquiring an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 1.8%

NYSE COP opened at $129.82 on Wednesday. The stock has a market cap of $155.96 billion, a PE ratio of 17.17, a PEG ratio of 1.40 and a beta of 0.11. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.87. The company’s 50-day moving average price is $114.31 and its 200-day moving average price is $117.12. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.34. The company had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm’s quarterly revenue was up 32.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.42 EPS. Equities research analysts forecast that ConocoPhillips will post 10.05 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.6%. ConocoPhillips’s dividend payout ratio is 44.44%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Scotiabank raised their target price on shares of ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Wells Fargo & Company increased their price objective on shares of ConocoPhillips from $183.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. The Goldman Sachs Group decreased their price objective on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Susquehanna boosted their target price on ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a research report on Tuesday, August 11th. Finally, BMO Capital Markets cut their target price on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $137.48.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.