ConocoPhillips (NYSE:COP) Stake Raised by Forum Financial Management LP

Forum Financial Management LP lifted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 23.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,049 shares of the energy producer's stock after buying 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.

Other institutional investors have also modified their holdings of the company. Albion Financial Group UT grew its position in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock valued at $25,000 after acquiring an additional 228 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in shares of ConocoPhillips during the fourth quarter worth about $26,000. Centricity Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at about $27,000. Crowley Wealth Management Inc. acquired a new position in ConocoPhillips during the 4th quarter worth approximately $32,000. Finally, Marshall Investment Management LLC acquired a new stake in ConocoPhillips in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target 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. Truist Financial upped their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a "buy" rating in a research report on Monday, January 13th. The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a research note on Thursday, January 30th. Wells Fargo & Company dropped their target price on shares of ConocoPhillips from $131.00 to $116.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Finally, TD Cowen initiated coverage on ConocoPhillips in a research report on Friday, January 17th. They issued a "buy" rating and a $125.00 target price for the company. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.68.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded up $0.45 on Wednesday, hitting $90.21. The company's stock had a trading volume of 3,945,631 shares, compared to its average volume of 7,111,748. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $130.77. The stock's 50-day moving average is $94.89 and its two-hundred day moving average is $101.03. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The company has a market capitalization of $114.04 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83.

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%. On average, equities research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.46%. ConocoPhillips's dividend payout ratio (DPR) is 40.05%.

About ConocoPhillips

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.