AGP Franklin LLC Purchases New Position in ConocoPhillips (NYSE:COP)

AGP Franklin LLC acquired a new position in ConocoPhillips (NYSE:COP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 21,973 shares of the energy producer's stock, valued at approximately $2,179,000.

A number of other hedge funds also recently made changes to their positions in the business. Albion Financial Group UT raised its position in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock worth $25,000 after buying an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in ConocoPhillips during the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC bought a new position in ConocoPhillips during the 4th quarter valued at $27,000. Crowley Wealth Management Inc. acquired a new position in shares of ConocoPhillips during the 4th quarter valued at $32,000. Finally, Marshall Investment Management LLC acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at $36,000. Institutional investors own 82.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. TD Cowen started coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They issued a "buy" rating and a $125.00 price target on the stock. UBS Group dropped their target price on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating on the stock in a report on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Raymond James cut ConocoPhillips from a "strong-buy" rating to an "outperform" rating and dropped their price target for the company from $157.00 to $124.00 in a report on Monday, February 10th. Finally, Royal Bank of Canada decreased their target price on ConocoPhillips from $133.00 to $120.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $128.32.

ConocoPhillips Stock Performance

Shares of COP stock traded up $2.60 during trading hours on Friday, reaching $88.96. 7,804,344 shares of the company's stock were exchanged, compared to its average volume of 7,108,925. The business has a fifty day moving average price of $95.25 and a 200-day moving average price of $101.44. The stock has a market capitalization of $112.46 billion, a P/E ratio of 11.42, a P/E/G ratio of 0.79 and a beta of 0.83. 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 fifty-two week low of $79.88 and a fifty-two week high of $130.77.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.51%. ConocoPhillips's dividend payout ratio (DPR) is 40.05%.

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.