SPC Financial Inc. Grows Stake in ConocoPhillips $COP

SPC Financial Inc. grew its holdings in ConocoPhillips (NYSE:COPFree Report) by 5.3% during the second quarter, HoldingsChannel reports. The fund owned 4,769 shares of the energy producer’s stock after purchasing an additional 239 shares during the period. SPC Financial Inc.’s holdings in ConocoPhillips were worth $428,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Personalized Indexing Management LLC increased its holdings in shares of ConocoPhillips by 17.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer’s stock valued at $13,927,000 after acquiring an additional 22,827 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of ConocoPhillips by 11.5% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 69,265 shares of the energy producer’s stock valued at $6,216,000 after purchasing an additional 7,163 shares during the period. Apollon Wealth Management LLC boosted its position in shares of ConocoPhillips by 6.8% in the 2nd quarter. Apollon Wealth Management LLC now owns 29,319 shares of the energy producer’s stock valued at $2,631,000 after purchasing an additional 1,874 shares during the period. Fifth Third Wealth Advisors LLC boosted its position in shares of ConocoPhillips by 10.9% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 21,650 shares of the energy producer’s stock valued at $1,943,000 after purchasing an additional 2,129 shares during the period. Finally, Conning Inc. boosted its position in shares of ConocoPhillips by 2.6% in the 2nd quarter. Conning Inc. now owns 400,755 shares of the energy producer’s stock valued at $35,964,000 after purchasing an additional 10,124 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. UBS Group upped their target price on ConocoPhillips from $116.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of ConocoPhillips in a research report on Wednesday, October 8th. Evercore ISI decreased 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. BMO Capital Markets upped their target price on ConocoPhillips from $113.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Finally, Scotiabank increased their price objective on ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a research report on Friday, July 11th. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $117.52.

Read Our Latest Stock Analysis on ConocoPhillips

ConocoPhillips Stock Down 4.5%

ConocoPhillips stock opened at $87.83 on Monday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38. The stock has a 50 day moving average of $94.60 and a two-hundred day moving average of $92.44. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $109.70 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 2.33 and a beta of 0.62.

ConocoPhillips (NYSE:COPGet Free Report) last posted its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. During the same period last year, the firm earned $1.98 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio is 41.88%.

ConocoPhillips Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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