Foundation Resource Management Inc. Has $28.93 Million Position in ConocoPhillips (NYSE:COP)

Foundation Resource Management Inc. lowered its stake in shares of ConocoPhillips (NYSE:COP) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 291,691 shares of the energy producer’s stock after selling 3,313 shares during the quarter. ConocoPhillips comprises approximately 4.8% of Foundation Resource Management Inc.’s holdings, making the stock its 6th largest holding. Foundation Resource Management Inc.’s holdings in ConocoPhillips were worth $28,927,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Tidal Investments LLC grew its holdings in shares of ConocoPhillips by 42.7% during the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock worth $10,902,000 after purchasing an additional 31,011 shares in the last quarter. Alpha DNA Investment Management LLC boosted its stake in ConocoPhillips by 83.8% during the second quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock worth $1,879,000 after buying an additional 7,490 shares in the last quarter. Prospera Financial Services Inc increased its holdings in ConocoPhillips by 23.6% in the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after buying an additional 13,595 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of ConocoPhillips by 1.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock valued at $262,094,000 after buying an additional 46,621 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of ConocoPhillips by 5,422.3% during the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after acquiring an additional 4,504,653 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Up 0.6 %

Shares of NYSE COP opened at $104.83 on Wednesday. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average of $104.21 and a two-hundred day moving average of $107.56. The company has a market cap of $120.65 billion, a PE ratio of 12.46, a P/E/G ratio of 0.83 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’s revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.16 EPS. As a group, equities analysts expect that ConocoPhillips will post 7.77 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were issued a $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 2.98%. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Insider Buying and Selling

In other ConocoPhillips news, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction on Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now owns 38,000 shares in the company, valued at $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Arjun N. Murti bought 2,500 shares of the company’s stock in a transaction on Friday, December 20th. The shares were acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on COP. Morgan Stanley assumed coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price on the stock. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Piper Sandler decreased their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, BMO Capital Markets increased their price objective on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips has an average rating of “Buy” and a consensus target price of $136.65.

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.