Financial Management Professionals Inc. Acquires 509 Shares of ConocoPhillips (NYSE:COP)

Financial Management Professionals Inc. grew its stake in ConocoPhillips (NYSE:COP) by 8.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,380 shares of the energy producer’s stock after purchasing an additional 509 shares during the quarter. Financial Management Professionals Inc.’s holdings in ConocoPhillips were worth $633,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Values First Advisors Inc. bought a new position in shares of ConocoPhillips in the 3rd quarter valued at about $26,000. Reston Wealth Management LLC bought a new position in shares of ConocoPhillips in the 3rd quarter valued at about $31,000. Truvestments Capital LLC bought a new position in shares of ConocoPhillips in the 3rd quarter valued at about $31,000. Global Wealth Strategies & Associates grew its holdings in shares of ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 153 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of ConocoPhillips in the 3rd quarter valued at about $35,000. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on COP. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Morgan Stanley began coverage on ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target for the company. Evercore ISI reiterated an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Barclays lifted their price target on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, TD Cowen initiated coverage on ConocoPhillips in a report on Friday. They set a “buy” rating and a $125.00 price target for the company. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, ConocoPhillips presently has a consensus rating of “Buy” and a consensus price target of $136.00.

Insider Buying and Selling at ConocoPhillips

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

ConocoPhillips Stock Up 0.1 %

NYSE COP opened at $105.76 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The company has a 50 day moving average of $103.79 and a 200-day moving average of $107.47. The company has a market cap of $121.72 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 0.81 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the previous year, the business earned $2.16 earnings per share. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. On average, equities research analysts expect that ConocoPhillips will post 7.7 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were given a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s payout ratio is currently 37.10%.

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.