Fulcrum Asset Management LLP Buys 5,740 Shares of ConocoPhillips $COP

Fulcrum Asset Management LLP boosted its stake in ConocoPhillips (NYSE:COP) by 11,958.3% during the third quarter, Holdings Channel.com reports. The firm owned 5,788 shares of the energy producer’s stock after buying an additional 5,740 shares during the period. Fulcrum Asset Management LLP’s holdings in ConocoPhillips were worth $726,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in ConocoPhillips by 3.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 840,683 shares of the energy producer’s stock valued at $106,817,000 after buying an additional 28,267 shares during the last quarter. StoneRidge PMG Advisors LLC purchased a new stake in ConocoPhillips during the 3rd quarter valued at $284,000. Beverly Hills Private Wealth LLC grew its holdings in ConocoPhillips by 37.2% in the 3rd quarter. Beverly Hills Private Wealth LLC now owns 3,310 shares of the energy producer’s stock worth $414,000 after acquiring an additional 898 shares during the last quarter. Bryn Mawr Trust Advisors LLC increased its position in shares of ConocoPhillips by 0.3% in the third quarter. Bryn Mawr Trust Advisors LLC now owns 116,088 shares of the energy producer’s stock valued at $14,528,000 after acquiring an additional 366 shares during the period. Finally, RHL Group LLC purchased a new position in shares of ConocoPhillips in the third quarter valued at about $65,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $140.13 on Friday. The firm has a market capitalization of $165.68 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.26 and a beta of 0.16. The stock has a fifty day moving average of $137.15 and a 200 day moving average of $122.89. ConocoPhillips has a 52 week low of $85.70 and a 52 week high of $154.28. The company has a quick ratio of 1.37, a current ratio of 1.52 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, November 5th. The energy producer reported $3.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.05 by $0.22. ConocoPhillips had a net margin of 16.55% and a return on equity of 17.60%. The business had revenue of $19.43 billion for the quarter, compared to the consensus estimate of $18.59 billion. During the same period in the previous year, the firm earned $1.61 EPS. The company’s quarterly revenue was up 29.2% compared to the same quarter last year. As a group, research analysts expect that ConocoPhillips will post 12.13 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, November 16th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.84. ConocoPhillips’s payout ratio is presently 35.29%.

Insider Buying and Selling at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of ConocoPhillips stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the sale, the senior vice president owned 9,593 shares of the company’s stock, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

Key Headlines Impacting ConocoPhillips

Here are a few of the latest headlines about COP:

• Neutral Sentiment: ConocoPhillips’ Permian president discussed efforts to get more value from each well; the report does not specify quantified results or a new production target. ConocoPhillips Permian president talks unlocking more value from every well
• Negative Sentiment: Sanford C. Bernstein cut its rating from outperform to market perform and lowered its price target to $122, implying notable downside from the referenced share price. Sanford C. Bernstein stock recommendations
• Negative Sentiment: Freedom Broker also downgraded COP, from buy to hold, with a $138 target. Separately, the recent analysis cautions that the stock’s 127.4% five-year gain may have stretched its valuation relative to earnings. ConocoPhillips stock moved down to hold by Freedom Broker ConocoPhillips stock looks like a bargain after fresh results

Analyst Ratings Changes

Several brokerages have recently commented on COP. Wells Fargo & Company lowered their price objective on shares of ConocoPhillips from $189.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, November 6th. Weiss Ratings raised ConocoPhillips from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Sanford C. Bernstein downgraded ConocoPhillips from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $129.00 to $122.00 in a report on Wednesday. Susquehanna boosted their price target on ConocoPhillips from $161.00 to $175.00 and gave the company a “positive” rating in a report on Tuesday, October 20th. Finally, William Blair initiated coverage on ConocoPhillips in a research report on Wednesday, October 28th. They set a “market perform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $144.73.

ConocoPhillips Company Profile

ConocoPhillips is an independent exploration and production company focused on finding, developing and producing oil and natural gas. Its products include crude oil, natural gas, liquefied natural gas and natural gas liquids. The company operates in several regions, including North America, Europe, the Middle East, North Africa and the Asia-Pacific. Its activities span exploration, development and production, with a portfolio that includes both conventional and unconventional resources. ConocoPhillips was formed in 2002 through the merger of Conoco and Phillips Petroleum.