Fortem Financial Group LLC Buys Shares of 3,163 ConocoPhillips (NYSE:COP)

Fortem Financial Group LLC acquired a new stake in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 3,163 shares of the energy producer’s stock, valued at approximately $314,000.

Several other hedge funds have also recently made changes to their positions in the stock. Excalibur Management Corp boosted its position in ConocoPhillips by 2.4% in the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock worth $462,000 after purchasing an additional 96 shares during the last quarter. Cypress Capital Group grew its position in ConocoPhillips by 0.5% during the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after buying an additional 96 shares during the period. Aprio Wealth Management LLC increased its holdings in ConocoPhillips by 4.8% during the third quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock valued at $224,000 after buying an additional 97 shares during the last quarter. Greenwich Wealth Management LLC raised its position in ConocoPhillips by 4.0% in the second quarter. Greenwich Wealth Management LLC now owns 2,581 shares of the energy producer’s stock worth $295,000 after acquiring an additional 99 shares during the period. Finally, MRP Capital Investments LLC boosted its stake in shares of ConocoPhillips by 4.3% during the 2nd quarter. MRP Capital Investments LLC now owns 2,430 shares of the energy producer’s stock worth $278,000 after acquiring an additional 100 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $99.71 on Tuesday. The company’s 50-day moving average price is $104.72 and its 200-day moving average price is $108.04. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The company has a market cap of $114.76 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 0.83 and a beta of 1.19. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.16 earnings per share. On average, equities research analysts forecast that ConocoPhillips will post 7.77 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.13%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s payout ratio is presently 37.10%.

Insider Buying and Selling at ConocoPhillips

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

Analyst Ratings Changes

Several research firms recently weighed in on COP. Susquehanna lifted their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Barclays raised their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Wells Fargo & Company increased their price objective on shares of ConocoPhillips from $131.00 to $134.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $136.71.

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.