Crestwood Advisors Group LLC Increases Stock Position in ConocoPhillips (NYSE:COP)

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Crestwood Advisors Group LLC increased its position in shares of ConocoPhillips (NYSE:COPGet Rating) by 6.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,113 shares of the energy producer’s stock after buying an additional 193 shares during the period. Crestwood Advisors Group LLC’s holdings in ConocoPhillips were worth $280,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in COP. Vanguard Group Inc. lifted its holdings in ConocoPhillips by 1.0% during the first quarter. Vanguard Group Inc. now owns 111,099,502 shares of the energy producer’s stock valued at $11,109,951,000 after purchasing an additional 1,146,552 shares in the last quarter. BlackRock Inc. lifted its holdings in ConocoPhillips by 3.4% during the fourth quarter. BlackRock Inc. now owns 111,073,845 shares of the energy producer’s stock valued at $8,017,310,000 after purchasing an additional 3,652,817 shares in the last quarter. Wellington Management Group LLP lifted its holdings in ConocoPhillips by 1.1% during the first quarter. Wellington Management Group LLP now owns 37,616,360 shares of the energy producer’s stock valued at $3,761,636,000 after purchasing an additional 408,012 shares in the last quarter. Capital World Investors lifted its holdings in ConocoPhillips by 62.4% during the first quarter. Capital World Investors now owns 23,463,085 shares of the energy producer’s stock valued at $2,346,309,000 after purchasing an additional 9,014,700 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in ConocoPhillips by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 22,672,355 shares of the energy producer’s stock valued at $1,631,930,000 after purchasing an additional 766,425 shares in the last quarter. 79.66% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

Shares of COP opened at $113.13 on Friday. ConocoPhillips has a 1-year low of $56.30 and a 1-year high of $124.08. The stock has a market cap of $146.33 billion, a PE ratio of 9.34, a P/E/G ratio of 0.38 and a beta of 1.31. The firm has a 50-day simple moving average of $100.18 and a two-hundred day simple moving average of $100.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.54 and a quick ratio of 1.44.

ConocoPhillips (NYSE:COPGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The energy producer reported $3.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.95 by ($0.04). ConocoPhillips had a net margin of 23.10% and a return on equity of 31.24%. During the same quarter last year, the firm earned $1.27 EPS. As a group, analysts forecast that ConocoPhillips will post 14.68 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a None dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 29th will be given a dividend of $1.40 per share. The ex-dividend date is Thursday, September 29th. ConocoPhillips’s dividend payout ratio is presently 15.19%.

Analyst Ratings Changes

Several research firms have recently weighed in on COP. The Goldman Sachs Group decreased their price target on shares of ConocoPhillips from $140.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, June 22nd. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Tuesday, August 16th. Mizuho decreased their price target on shares of ConocoPhillips from $148.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, August 18th. Bank of America raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $135.00 to $134.00 in a research note on Tuesday, July 19th. Finally, Morgan Stanley raised their price target on shares of ConocoPhillips from $117.00 to $118.00 and gave the stock an “overweight” rating in a research note on Monday, August 29th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $121.47.

Insider Buying and Selling at ConocoPhillips

In related news, EVP Nicholas G. Olds sold 10,950 shares of ConocoPhillips stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $116.52, for a total value of $1,275,894.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.08% of the company’s stock.

ConocoPhillips Company Profile

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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company’s portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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