Diversify Advisory Services LLC Grows Stock Position in ConocoPhillips (NYSE:COP)

Diversify Advisory Services LLC boosted its position in shares of ConocoPhillips (NYSE:COP) by 754.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,587 shares of the energy producer’s stock after buying an additional 20,828 shares during the quarter. Diversify Advisory Services LLC’s holdings in ConocoPhillips were worth $2,477,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of COP. Values First Advisors Inc. purchased a new stake in ConocoPhillips in the 3rd quarter worth about $26,000. Stephens Consulting LLC lifted its stake in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares during the last quarter. Ruedi Wealth Management Inc. boosted its holdings in ConocoPhillips by 150.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 150 shares during the period. Y.D. More Investments Ltd purchased a new stake in ConocoPhillips in the second quarter worth $35,000. Finally, Fairway Wealth LLC grew its holdings in shares of ConocoPhillips by 95.6% in the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after purchasing an additional 153 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.9 %

ConocoPhillips stock opened at $102.32 on Wednesday. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The business has a fifty day moving average price of $108.15 and a 200-day moving average price of $113.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The stock has a market capitalization of $118.82 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 0.85 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter last year, the company earned $1.84 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. Equities research analysts forecast that ConocoPhillips will post 7.85 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a $0.58 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.27%. ConocoPhillips’s dividend payout ratio is currently 25.86%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Scotiabank decreased their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. BMO Capital Markets boosted their price target on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Susquehanna reduced their price objective on ConocoPhillips from $147.00 to $144.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. Finally, Barclays cut their price target on ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $136.94.

Insiders Place Their Bets

In related news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Company 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.