Hartford Investment Management Co. Buys 6,948 Shares of ConocoPhillips (NYSE:COP)

Hartford Investment Management Co. increased its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 9.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,932 shares of the energy producer's stock after buying an additional 6,948 shares during the period. Hartford Investment Management Co.'s holdings in ConocoPhillips were worth $7,927,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cypress Capital Group increased its stake in ConocoPhillips by 0.5% during the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer's stock worth $1,978,000 after buying an additional 96 shares during the period. Orrstown Financial Services Inc. increased its position in shares of ConocoPhillips by 3.0% in the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer's stock worth $331,000 after purchasing an additional 96 shares during the last quarter. Smithfield Trust Co grew its position in shares of ConocoPhillips by 3.3% during the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer's stock valued at $332,000 after buying an additional 100 shares during the last quarter. Principle Wealth Partners LLC grew its position in shares of ConocoPhillips by 0.3% during the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer's stock valued at $3,695,000 after buying an additional 100 shares during the last quarter. Finally, Asset Dedication LLC grew its position in shares of ConocoPhillips by 2.5% during the 3rd quarter. Asset Dedication LLC now owns 4,202 shares of the energy producer's stock valued at $442,000 after buying an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

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ConocoPhillips Price Performance

Shares of NYSE COP traded down $0.52 during midday trading on Friday, reaching $96.39. The company's stock had a trading volume of 7,959,626 shares, compared to its average volume of 5,701,314. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. The company has a 50 day moving average price of $100.44 and a 200 day moving average price of $105.76. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. The company has a market cap of $110.93 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18.

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, topping analysts' consensus estimates 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 expect that ConocoPhillips will post 8.3 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.24%. ConocoPhillips's dividend payout ratio is currently 40.05%.

Insider Activity

In related news, Director R A. Walker acquired 10,400 shares of the company's stock in a transaction on Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arjun N. Murti bought 2,500 shares of the firm's stock in a transaction on Friday, December 20th. The shares were bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on COP. TD Cowen began coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a "buy" rating and a $125.00 price objective for the company. Raymond James downgraded shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the company from $157.00 to $124.00 in a research report on Monday, February 10th. JPMorgan Chase & Co. raised shares of ConocoPhillips from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Morgan Stanley began coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an "overweight" rating and a $128.00 price objective for the company. Finally, Wells Fargo & Company lowered their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips presently has an average rating of "Moderate Buy" and a consensus target price of $133.56.

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.