IFP Advisors Inc Purchases 1,645 Shares of ConocoPhillips (NYSE:COP)

IFP Advisors Inc grew its position in shares of ConocoPhillips (NYSE:COP) by 15.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,636 shares of the energy producer’s stock after acquiring an additional 1,645 shares during the quarter. IFP Advisors Inc’s holdings in ConocoPhillips were worth $1,253,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in COP. Albion Financial Group UT increased its stake in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after buying an additional 228 shares during the last quarter. Centricity Wealth Management LLC bought a new position in shares of ConocoPhillips in the 4th quarter valued at about $27,000. Reston Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at about $31,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at about $31,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in ConocoPhillips during the third quarter worth about $35,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Performance

NYSE COP opened at $96.06 on Thursday. The firm has a 50-day moving average price of $100.07 and a two-hundred day moving average price of $105.21. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The company has a market capitalization of $122.23 billion, a P/E ratio of 12.33, a P/E/G ratio of 0.79 and a beta of 1.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating 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 anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on COP. Morgan Stanley initiated coverage on ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target on the stock. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a report on Thursday, January 30th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price target for the company from $132.00 to $134.00 in a research note on Monday, December 16th. UBS Group lowered their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Finally, Barclays cut their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $133.47.

Insiders Place Their Bets

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 bought 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

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.