EverSource Wealth Advisors LLC Buys 4,266 Shares of ConocoPhillips (NYSE:COP)

EverSource Wealth Advisors LLC increased its position in shares of ConocoPhillips (NYSE:COP) by 7.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,470 shares of the energy producer’s stock after purchasing an additional 4,266 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in ConocoPhillips were worth $6,947,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in COP. Cooksen Wealth LLC bought a new stake in ConocoPhillips during the fourth quarter worth $27,000. Cape Investment Advisory Inc. grew its holdings in shares of ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 121 shares during the last quarter. Stephens Consulting LLC increased its position in 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 purchasing an additional 104 shares in the last quarter. Richardson Capital Management LLC bought a new position in ConocoPhillips in the 1st quarter valued at approximately $31,000. Finally, Northwest Bank & Trust Co acquired a new stake in ConocoPhillips in the fourth quarter valued at approximately $32,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COP. UBS Group dropped their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday. Bank of America reissued a “buy” rating and set a $147.00 price target on shares of ConocoPhillips in a research note on Friday, June 14th. Susquehanna reduced their price target on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Scotiabank decreased their price objective on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.29.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the transaction, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Stock Performance

NYSE:COP opened at $109.87 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The company has a fifty day moving average of $109.76 and a 200-day moving average of $116.57. The firm has a market capitalization of $127.59 billion, a P/E ratio of 12.44, a P/E/G ratio of 0.80 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $14.96 billion. During the same period in the previous year, the company posted $1.84 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.41 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.11%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is currently 26.27%.

About ConocoPhillips

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.