Horizon Investments LLC Has $2.90 Million Stock Position in ConocoPhillips (NYSE:COP)

Horizon Investments LLC increased its stake in ConocoPhillips (NYSE:COP) by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,265 shares of the energy producer’s stock after acquiring an additional 2,649 shares during the quarter. Horizon Investments LLC’s holdings in ConocoPhillips were worth $2,902,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Albion Financial Group UT increased its holdings in ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in ConocoPhillips in the fourth quarter worth approximately $27,000. Truvestments Capital LLC bought a new stake in ConocoPhillips in the third quarter worth approximately $31,000. Global Wealth Strategies & Associates increased its holdings in ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new stake in ConocoPhillips in the third quarter worth approximately $35,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the acquisition, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Up 1.2 %

COP stock opened at $100.51 on Wednesday. The stock’s fifty day simple moving average is $99.19 and its two-hundred day simple moving average is $103.56. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 1-year low of $86.81 and a 1-year high of $135.18. The stock has a market cap of $127.88 billion, a P/E ratio of 12.90, a P/E/G ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.10%. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Analyst Ratings Changes

A number of brokerages have weighed in on COP. Evercore ISI reiterated an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Morgan Stanley initiated coverage on ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective for the company. UBS Group decreased their price objective on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Barclays decreased their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Finally, The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a report on Thursday, January 30th. Two 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $133.05.

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.