Encompass More Asset Management Increases Stock Position in ConocoPhillips (NYSE:COP)

Encompass More Asset Management raised its holdings in shares of ConocoPhillips (NYSE:COP) by 6.6% during the fourth quarter, HoldingsChannel reports. The fund owned 5,484 shares of the energy producer’s stock after purchasing an additional 338 shares during the quarter. Encompass More Asset Management’s holdings in ConocoPhillips were worth $544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in COP. Impact Partnership Wealth LLC lifted its holdings in ConocoPhillips by 83.6% during the 4th quarter. Impact Partnership Wealth LLC now owns 14,266 shares of the energy producer’s stock worth $1,415,000 after purchasing an additional 6,496 shares in the last quarter. Southland Equity Partners LLC grew its stake in ConocoPhillips by 4.7% during the fourth quarter. Southland Equity Partners LLC now owns 4,409 shares of the energy producer’s stock valued at $437,000 after acquiring an additional 196 shares in the last quarter. LexAurum Advisors LLC increased its holdings in ConocoPhillips by 18.3% during the 4th quarter. LexAurum Advisors LLC now owns 4,250 shares of the energy producer’s stock worth $421,000 after acquiring an additional 658 shares during the period. RFG Advisory LLC boosted its holdings in ConocoPhillips by 72.0% in the 4th quarter. RFG Advisory LLC now owns 7,251 shares of the energy producer’s stock valued at $719,000 after purchasing an additional 3,035 shares during the period. Finally, Cornerstone Wealth Management LLC raised its position in shares of ConocoPhillips by 9.7% in the fourth quarter. Cornerstone Wealth Management LLC now owns 13,949 shares of the energy producer’s stock worth $1,383,000 after buying an additional 1,239 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.5 %

Shares of ConocoPhillips stock opened at $104.52 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The company has a market cap of $120.29 billion, a P/E ratio of 12.43, a PEG ratio of 0.86 and a beta of 1.19. The company’s fifty day simple moving average is $103.36 and its two-hundred day simple moving average is $107.22.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’s revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.16 earnings per share. Research analysts anticipate that ConocoPhillips will post 7.65 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.99%. ConocoPhillips’s payout ratio is currently 37.10%.

Insider Buying and Selling

In related news, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. The trade was a 37.68 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

COP has been the subject of a number of research analyst reports. Scotiabank dropped their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Susquehanna upped their price objective on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Evercore ISI reissued an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. BMO Capital Markets upped their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Morgan Stanley assumed coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price on the stock. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $135.89.

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.