Arkadios Wealth Advisors Acquires 6,959 Shares of ConocoPhillips (NYSE:COP)

Arkadios Wealth Advisors raised its holdings in shares of ConocoPhillips (NYSE:COP) by 98.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,041 shares of the energy producer’s stock after acquiring an additional 6,959 shares during the quarter. Arkadios Wealth Advisors’ holdings in ConocoPhillips were worth $1,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cardinal Capital Management Inc. bought a new stake in ConocoPhillips during the 4th quarter valued at $13,468,000. Harbor Investment Advisory LLC raised its holdings in ConocoPhillips by 2.2% during the 1st quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock valued at $1,234,000 after acquiring an additional 212 shares during the period. First Trust Direct Indexing L.P. increased its holdings in shares of ConocoPhillips by 5.6% in the first quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock worth $3,320,000 after purchasing an additional 1,390 shares during the period. Manning & Napier Advisors LLC bought a new position in shares of ConocoPhillips in the second quarter worth $30,021,000. Finally, EP Wealth Advisors LLC increased its holdings in shares of ConocoPhillips by 19.1% in the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock worth $3,640,000 after purchasing an additional 4,578 shares during the period. Institutional investors own 82.36% of the company’s stock.

Insider Activity

In related news, Director Timothy A. Leach sold 55,500 shares of the 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 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 legal filing with the SEC, which is available through this link. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the topic of several research analyst reports. Sanford C. Bernstein decreased their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Royal Bank of Canada upped their price target on shares of ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, May 15th. Raymond James reaffirmed a “strong-buy” rating and issued a $159.00 price target (up previously from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Barclays upped their target price on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $143.65.

ConocoPhillips Trading Up 2.0 %

Shares of NYSE:COP traded up $2.22 during midday trading on Thursday, hitting $114.37. 5,242,263 shares of the stock traded hands, compared to its average volume of 5,656,557. The stock has a market capitalization of $133.76 billion, a PE ratio of 12.83, a P/E/G ratio of 2.22 and a beta of 1.24. The business’s 50 day moving average is $111.56 and its two-hundred day moving average is $117.02. 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 one year low of $102.27 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.84 earnings per share. As a group, research analysts forecast that ConocoPhillips will post 8.64 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

ConocoPhillips Company Profile

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.