Simplicity Wealth LLC Purchases 6,031 Shares of ConocoPhillips $COP

Simplicity Wealth LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 50.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,079 shares of the energy producer’s stock after buying an additional 6,031 shares during the period. Simplicity Wealth LLC’s holdings in ConocoPhillips were worth $1,879,000 as of its most recent SEC filing.

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

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $127.64 on Tuesday. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $153.34 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 1.40 and a beta of 0.11. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.87. The firm’s 50-day moving average price is $114.05 and its two-hundred day moving average price is $116.92.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. ConocoPhillips’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 earnings per share. On average, equities analysts predict that ConocoPhillips will post 10.05 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips’s dividend payout ratio (DPR) is currently 44.44%.

Analyst Ratings Changes

A number of research firms have weighed in on COP. Argus lifted their price objective on ConocoPhillips from $128.00 to $136.00 and gave the company a “buy” rating in a report on Friday, May 15th. BMO Capital Markets dropped their target price on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Jefferies Financial Group raised their target price on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Wells Fargo & Company boosted their price target on ConocoPhillips from $183.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Weiss Ratings upgraded ConocoPhillips from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company 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.