Foundation Resource Management Inc. Sells 8,877 Shares of ConocoPhillips (NYSE:COP)

Foundation Resource Management Inc. reduced its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 3.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 282,814 shares of the energy producer's stock after selling 8,877 shares during the quarter. ConocoPhillips comprises about 4.7% of Foundation Resource Management Inc.'s portfolio, making the stock its 7th biggest position. Foundation Resource Management Inc.'s holdings in ConocoPhillips were worth $29,701,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp purchased a new position in ConocoPhillips in the fourth quarter worth $26,000. Centricity Wealth Management LLC acquired a new stake in ConocoPhillips during the fourth quarter worth about $27,000. 10Elms LLP acquired a new position in shares of ConocoPhillips in the 4th quarter valued at $28,000. Crowley Wealth Management Inc. acquired a new position in shares of ConocoPhillips in the fourth quarter worth about $32,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in ConocoPhillips during the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Up 2.4%

NYSE:COP traded up $2.15 during midday trading on Wednesday, hitting $93.33. 8,701,251 shares of the company were exchanged, compared to its average volume of 7,438,157. The company has a market capitalization of $117.98 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $118.40. The company has a fifty day simple moving average of $88.44 and a 200 day simple moving average of $96.09.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The company had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. During the same period last year, the firm posted $2.05 EPS. As a group, equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is presently 39.64%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Citigroup dropped their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday. Susquehanna dropped their price objective on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a report on Monday, May 12th. Scotiabank decreased their price target on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company decreased their price target on ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 14th. Finally, UBS Group dropped their price objective on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $121.30.

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.