Occidental Asset Management LLC Boosts Holdings in ConocoPhillips $COP

Occidental Asset Management LLC increased its stake in shares of ConocoPhillips (NYSE:COP) by 138.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,043 shares of the energy producer’s stock after acquiring an additional 6,999 shares during the quarter. Occidental Asset Management LLC’s holdings in ConocoPhillips were worth $1,252,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. AXA S.A. increased its position in ConocoPhillips by 91.1% during the second quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock worth $7,622,000 after buying an additional 40,499 shares during the period. Sei Investments Co. boosted its holdings in shares of ConocoPhillips by 6.1% in the second quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock valued at $70,397,000 after acquiring an additional 44,852 shares during the period. BNP Paribas acquired a new stake in shares of ConocoPhillips in the second quarter valued at approximately $33,000. Osterweis Capital Management Inc. purchased a new position in shares of ConocoPhillips during the second quarter worth approximately $151,000. Finally, Main Street Financial Solutions LLC grew its position in shares of ConocoPhillips by 53.5% during the second quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock worth $431,000 after acquiring an additional 1,675 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on COP shares. Barclays cut their target price on shares of ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday. Royal Bank Of Canada set a $130.00 price objective on shares of ConocoPhillips in a research report on Monday, June 22nd. Susquehanna lifted their price objective on shares of ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a research note on Tuesday, August 11th. Roth Capital raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and upped their target price for the company from $124.00 to $130.00 in a report on Monday, June 22nd. Finally, Scotiabank increased their target price on shares of ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $137.48.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $129.82 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The business has a 50 day simple moving average of $114.31 and a 200-day simple moving average of $117.12. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.87. The stock has a market capitalization of $155.96 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.40 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. The firm had revenue of $19.52 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the firm posted $1.42 EPS. Equities analysts predict that ConocoPhillips will post 10.05 earnings per share for the current year.

ConocoPhillips Dividend Announcement

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

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.