Forum Financial Management LP Raises Stock Holdings in ConocoPhillips (NYSE:COP)

Forum Financial Management LP lifted its position in ConocoPhillips (NYSE:COP - Free Report) by 23.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,049 shares of the energy producer's stock after purchasing an additional 4,370 shares during the quarter. Forum Financial Management LP's holdings in ConocoPhillips were worth $2,286,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in COP. Murphy & Mullick Capital Management Corp bought a new stake in shares of ConocoPhillips during the 4th quarter valued at about $26,000. Centricity Wealth Management LLC bought a new stake in shares of ConocoPhillips during the 4th quarter valued at about $27,000. 10Elms LLP bought a new stake in shares of ConocoPhillips during the 4th quarter valued at about $28,000. Crowley Wealth Management Inc. bought a new stake in shares of ConocoPhillips during the 4th quarter valued at about $32,000. Finally, DiNuzzo Private Wealth Inc. boosted its position in shares of ConocoPhillips by 310.1% during the 4th quarter. DiNuzzo Private Wealth Inc. now owns 365 shares of the energy producer's stock valued at $36,000 after acquiring an additional 276 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Up 0.3%

Shares of COP traded up $0.29 during mid-day trading on Tuesday, hitting $85.48. 7,221,395 shares of the company's stock traded hands, compared to its average volume of 7,397,039. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $119.23. The firm has a market capitalization of $108.06 billion, a P/E ratio of 10.97, a PEG ratio of 0.79 and a beta of 0.64. The business's 50-day moving average price is $91.82 and its 200-day moving average price is $97.98.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same period in the prior year, the firm earned $2.05 earnings per share. As a group, sell-side 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 will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be paid a $0.78 dividend. The ex-dividend date is Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.65%. ConocoPhillips's payout ratio is 39.64%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on COP. Bank of America dropped their price target on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research report on Friday. Scotiabank dropped their target price on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a research report on Friday, April 11th. Royal Bank of Canada dropped their target price on ConocoPhillips from $133.00 to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Morgan Stanley boosted their target price on ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Raymond James reaffirmed an "outperform" rating and issued a $109.00 price target (up from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $121.89.

ConocoPhillips Company 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.