Kestra Advisory Services LLC Increases Holdings in ConocoPhillips $COP

Kestra Advisory Services LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 13.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,502 shares of the energy producer’s stock after purchasing an additional 10,614 shares during the period. Kestra Advisory Services LLC’s holdings in ConocoPhillips were worth $11,814,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. AXA S.A. increased its stake in shares of ConocoPhillips by 91.1% during the second quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock valued at $7,622,000 after buying an additional 40,499 shares during the period. Sei Investments Co. lifted its stake in ConocoPhillips by 6.1% in the second quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock worth $70,397,000 after acquiring an additional 44,852 shares during the period. BNP Paribas bought a new stake in ConocoPhillips in the second quarter valued at $33,000. Osterweis Capital Management Inc. purchased a new position in ConocoPhillips during the 2nd quarter valued at $151,000. Finally, Main Street Financial Solutions LLC increased its position in ConocoPhillips by 53.5% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock valued at $431,000 after purchasing an additional 1,675 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.0%

Shares of ConocoPhillips stock opened at $109.06 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The company has a 50-day moving average of $114.15 and a 200 day moving average of $112.79. The firm has a market cap of $132.86 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 1.31 and a beta of 0.12. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the previous year, the firm posted $2.09 earnings per share. ConocoPhillips’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, sell-side analysts anticipate that ConocoPhillips will post 9.28 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.

Wall Street Analyst Weigh In

Several research firms have recently commented on COP. Argus raised their target price on shares of ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Jefferies Financial Group boosted their price target on shares of ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Wolfe Research raised their price objective on shares of ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Sanford C. Bernstein lifted their price objective on ConocoPhillips from $98.00 to $121.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Finally, Mizuho reduced their target price on ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $134.04.

ConocoPhillips 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.