2,588 Shares in ConocoPhillips (NYSE:COP) Bought by Seven Mile Advisory

Seven Mile Advisory acquired a new position in shares of ConocoPhillips (NYSE:COP) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,588 shares of the energy producer’s stock, valued at approximately $257,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in COP. Summit Financial LLC lifted its stake in ConocoPhillips by 18.0% in the 4th quarter. Summit Financial LLC now owns 28,007 shares of the energy producer’s stock valued at $2,777,000 after buying an additional 4,277 shares in the last quarter. Hoey Investments Inc. raised its holdings in shares of ConocoPhillips by 779.0% during the fourth quarter. Hoey Investments Inc. now owns 712 shares of the energy producer’s stock valued at $71,000 after acquiring an additional 631 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of ConocoPhillips by 18.6% in the fourth quarter. Alliancebernstein L.P. now owns 2,087,500 shares of the energy producer’s stock valued at $207,017,000 after acquiring an additional 327,241 shares in the last quarter. Gifford Fong Associates increased its position in shares of ConocoPhillips by 158.0% during the fourth quarter. Gifford Fong Associates now owns 41,281 shares of the energy producer’s stock worth $4,094,000 after purchasing an additional 25,281 shares in the last quarter. Finally, FSB Premier Wealth Management Inc. raised its stake in ConocoPhillips by 24.1% in the 4th quarter. FSB Premier Wealth Management Inc. now owns 10,707 shares of the energy producer’s stock valued at $1,062,000 after purchasing an additional 2,082 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Barclays cut their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a report on Thursday, January 30th. Morgan Stanley cut their price target on ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $132.95.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $102.37 on Monday. The stock has a market capitalization of $130.26 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The business has a 50-day moving average of $98.95 and a 200 day moving average of $103.28. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate 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, sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio is currently 40.05%.

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.