Icon Wealth Advisors LLC Has $1.26 Million Holdings in ConocoPhillips (NYSE:COP)

Icon Wealth Advisors LLC lifted its stake in shares of ConocoPhillips (NYSE:COP) by 1.5% during the third quarter, Holdings Channel.com reports. The firm owned 11,998 shares of the energy producer’s stock after buying an additional 183 shares during the period. Icon Wealth Advisors LLC’s holdings in ConocoPhillips were worth $1,263,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Values First Advisors Inc. acquired a new position in ConocoPhillips during the 3rd quarter worth $26,000. Stephens Consulting LLC raised its position in shares of ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares during the last quarter. Reston Wealth Management LLC acquired a new position in shares of ConocoPhillips during the third quarter valued at $31,000. Truvestments Capital LLC bought a new position in ConocoPhillips in the third quarter valued at about $31,000. Finally, Y.D. More Investments Ltd acquired a new stake in ConocoPhillips in the second quarter worth about $35,000. 82.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

COP has been the topic of a number of research reports. Mizuho upped their target price on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Barclays increased their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Truist Financial lowered their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research report on Friday, September 13th. Finally, Scotiabank dropped their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $137.63.

ConocoPhillips Trading Up 0.9 %

NYSE:COP opened at $108.37 on Friday. The business’s 50-day simple moving average is $108.77 and its 200-day simple moving average is $110.86. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The stock has a market capitalization of $124.72 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 0.88 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same quarter in the previous year, the firm posted $2.16 earnings per share. The business’s revenue was down 8.5% on a year-over-year basis. Sell-side analysts expect that ConocoPhillips will post 7.76 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be paid a $0.78 dividend. The ex-dividend date is Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.88%. ConocoPhillips’s dividend payout ratio is presently 37.10%.

ConocoPhillips 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.