Daymark Wealth Partners LLC Has $1.20 Million Position in ConocoPhillips (NYSE:COP)

Daymark Wealth Partners LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 10.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 10,470 shares of the energy producer’s stock after purchasing an additional 1,009 shares during the period. Daymark Wealth Partners LLC’s holdings in ConocoPhillips were worth $1,198,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cooksen Wealth LLC acquired a new stake in ConocoPhillips in the 4th quarter valued at about $27,000. Stephens Consulting LLC grew its stake in shares of ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares during the last quarter. Richardson Capital Management LLC acquired a new stake in shares of ConocoPhillips in the first quarter valued at approximately $31,000. Northwest Bank & Trust Co bought a new position in ConocoPhillips in the 4th quarter worth approximately $32,000. Finally, Ruedi Wealth Management Inc. lifted 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 worth $32,000 after buying an additional 150 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Stock Performance

Shares of COP opened at $102.28 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The firm has a fifty day simple moving average of $109.33 and a 200 day simple moving average of $116.48. The stock has a market capitalization of $118.77 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 0.86 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating 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 company had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same quarter last year, the company earned $1.84 EPS. ConocoPhillips’s revenue for the quarter was up 9.7% compared to the same quarter last year. Research analysts forecast that ConocoPhillips will post 8.14 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on COP shares. Wells Fargo & Company cut their target price on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Raymond James reissued a “strong-buy” rating and set a $159.00 price objective (up previously from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. UBS Group lowered their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Susquehanna reduced their price target on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Finally, Bank of America restated a “buy” rating and issued a $147.00 price objective on shares of ConocoPhillips in a research report on Friday, June 14th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $142.29.

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.