Foundations Investment Advisors LLC increased its stake in ConocoPhillips (NYSE:COP – Get Rating) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,152 shares of the energy producer’s stock after acquiring an additional 837 shares during the quarter. Foundations Investment Advisors LLC’s holdings in ConocoPhillips were worth $1,316,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in COP. FMR LLC lifted its stake in shares of ConocoPhillips by 64.8% in the second quarter. FMR LLC now owns 21,177,310 shares of the energy producer’s stock worth $1,901,935,000 after acquiring an additional 8,323,587 shares during the period. UBS Asset Management Americas Inc. lifted its stake in shares of ConocoPhillips by 53.4% in the third quarter. UBS Asset Management Americas Inc. now owns 7,338,622 shares of the energy producer’s stock worth $751,035,000 after acquiring an additional 2,555,634 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of ConocoPhillips by 12.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 22,866,527 shares of the energy producer’s stock worth $2,053,643,000 after acquiring an additional 2,472,255 shares during the period. Cowa LLC lifted its stake in shares of ConocoPhillips by 6,475.2% in the first quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock worth $2,383,000 after acquiring an additional 2,339,100 shares during the period. Finally, Yacktman Asset Management LP lifted its stake in shares of ConocoPhillips by 559.1% in the third quarter. Yacktman Asset Management LP now owns 1,766,770 shares of the energy producer’s stock worth $180,811,000 after acquiring an additional 1,498,720 shares during the period. 81.76% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
COP has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on ConocoPhillips from $154.00 to $156.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 10th. Scotiabank lowered ConocoPhillips from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the company from $145.00 to $140.00 in a research note on Tuesday, January 17th. StockNews.com assumed coverage on ConocoPhillips in a report on Thursday. They set a “hold” rating for the company. Barclays boosted their price objective on ConocoPhillips from $151.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, January 23rd. Finally, Raymond James lowered their price target on ConocoPhillips from $150.00 to $135.00 and set a “strong-buy” rating for the company in a research report on Thursday, January 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.86.
ConocoPhillips Stock Down 2.1 %
ConocoPhillips (NYSE:COP – Get Rating) last issued its earnings results on Thursday, February 2nd. The energy producer reported $2.71 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.01). ConocoPhillips had a return on equity of 35.30% and a net margin of 22.74%. The company had revenue of $19.26 billion during the quarter, compared to the consensus estimate of $18.16 billion. During the same quarter in the prior year, the business earned $2.27 EPS. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, equities research analysts predict that ConocoPhillips will post 11.79 earnings per share for the current year.
ConocoPhillips Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Wednesday, March 29th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Tuesday, March 28th. This represents a $2.04 annualized dividend and a yield of 2.16%. ConocoPhillips’s dividend payout ratio is currently 14.06%.
Insiders Place Their Bets
In related news, Director R A. Walker bought 4,800 shares of the business’s stock in a transaction on Wednesday, February 22nd. The stock was acquired at an average price of $103.00 per share, for a total transaction of $494,400.00. Following the purchase, the director now directly owns 27,600 shares in the company, valued at $2,842,800. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by corporate insiders.
ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska, Lower 48, Canada, Europe, Middle East and North Africa, Asia Pacific, and Other International.
- Get a free copy of the StockNews.com research report on ConocoPhillips (COP)
- MarketBeat Week in Review – 3/13 – 3/17
- This Small Tech With Big Growth Prospects Is Nearing A Buy Point
- Don’t Chase FedEx Higher, Wait For The Pullback
- 3 Stocks For A Defensive Tech Portfolio
- Milk the Dividends on These 3 Cash Cows
Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.