Meyer Handelman Co. Buys 10,116 Shares of ConocoPhillips $COP

Meyer Handelman Co. grew its stake in shares of ConocoPhillips (NYSE:COP) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 165,790 shares of the energy producer’s stock after purchasing an additional 10,116 shares during the period. Meyer Handelman Co.’s holdings in ConocoPhillips were worth $15,520,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Howard Hughes Medical Institute bought a new position in ConocoPhillips in the second quarter worth about $25,000. Cloud Capital Management LLC bought a new stake in ConocoPhillips during the 3rd quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp purchased a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $28,000. Board of the Pension Protection Fund purchased a new position in shares of ConocoPhillips during the 4th quarter worth approximately $28,000. Finally, Strive Asset Management LLC bought a new position in shares of ConocoPhillips in the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of a number of research analyst reports. Mizuho raised their target price on ConocoPhillips from $121.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. Scotiabank upgraded ConocoPhillips to a “hold” rating in a report on Friday, March 27th. Roth Mkm lowered ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 price objective for the company. in a research report on Tuesday, February 17th. BMO Capital Markets boosted their target price on shares of ConocoPhillips from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, March 3rd. Finally, Raymond James Financial upped their target price on shares of ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $122.16.

Insider Buying and Selling

In related news, SVP Andrew D. Lundquist sold 34,500 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the sale, the senior vice president directly owned 17,469 shares of the company’s stock, valued at approximately $2,090,689.92. This represents a 66.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nicholas G. Olds sold 14,522 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $119.36, for a total transaction of $1,733,345.92. Following the sale, the executive vice president owned 12,389 shares of the company’s stock, valued at approximately $1,478,751.04. This represents a 53.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 621,670 shares of company stock worth $78,320,133 over the last quarter. 0.24% of the stock is owned by insiders.

ConocoPhillips Stock Down 0.7%

COP stock opened at $132.02 on Wednesday. The business has a 50 day moving average of $113.99 and a 200 day moving average of $99.71. The firm has a market cap of $163.14 billion, a PE ratio of 20.82, a price-to-earnings-growth ratio of 2.42 and a beta of 0.27. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $135.87. The company has a quick ratio of 1.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 5th. The energy producer reported $1.02 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.21). ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The company had revenue of $13.86 billion during the quarter, compared to the consensus estimate of $14.35 billion. During the same period last year, the firm posted $1.98 earnings per share. The company’s revenue was down 3.7% compared to the same quarter last year. On average, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Wednesday, February 18th were paid a $0.84 dividend. The ex-dividend date was Wednesday, February 18th. This represents a $3.36 dividend on an annualized basis and a yield of 2.5%. ConocoPhillips’s payout ratio is presently 53.00%.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.