Gifford Fong Associates Acquires 25,281 Shares of ConocoPhillips (NYSE:COP)

Gifford Fong Associates lifted its holdings in ConocoPhillips (NYSE:COP - Free Report) by 158.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,281 shares of the energy producer's stock after purchasing an additional 25,281 shares during the quarter. ConocoPhillips accounts for approximately 1.0% of Gifford Fong Associates' investment portfolio, making the stock its 28th biggest holding. Gifford Fong Associates' holdings in ConocoPhillips were worth $4,094,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bridgewater Associates LP grew its stake in shares of ConocoPhillips by 58.9% in the third quarter. Bridgewater Associates LP now owns 3,079 shares of the energy producer's stock valued at $324,000 after buying an additional 1,141 shares in the last quarter. Semmax Financial Advisors Inc. grew its position in shares of ConocoPhillips by 10.9% in the 3rd quarter. Semmax Financial Advisors Inc. now owns 10,851 shares of the energy producer's stock valued at $1,209,000 after acquiring an additional 1,070 shares during the period. True Wealth Design LLC increased its stake in shares of ConocoPhillips by 89.3% during the 3rd quarter. True Wealth Design LLC now owns 653 shares of the energy producer's stock worth $69,000 after purchasing an additional 308 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $7,017,000. Finally, FSA Wealth Management LLC acquired a new stake in ConocoPhillips in the 3rd quarter valued at about $108,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

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ConocoPhillips Stock Down 8.9 %

NYSE COP traded down $9.39 on Thursday, hitting $96.71. 5,482,451 shares of the company were exchanged, compared to its average volume of 8,299,717. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company has a market cap of $123.05 billion, a PE ratio of 12.41, a PEG ratio of 0.79 and a beta of 1.12. The stock has a fifty day moving average of $99.02 and a 200-day moving average of $103.33. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (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%. As a group, analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.23%. ConocoPhillips's dividend payout ratio is 40.05%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on COP. Wells Fargo & Company lowered their price target on ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. 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 research note on Monday, February 10th. TD Cowen initiated coverage on ConocoPhillips in a report on Friday, January 17th. They set a "buy" rating and a $125.00 price target for the company. Mizuho raised shares of ConocoPhillips from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, Evercore ISI reaffirmed an "outperform" rating and set a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. 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's stock. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of "Moderate Buy" and an average price target of $132.95.

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.