ConocoPhillips (NYSE:COP) Position Increased by Empowered Funds LLC

Empowered Funds LLC increased its position in shares of ConocoPhillips (NYSE:COP) by 11.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 330,429 shares of the energy producer’s stock after buying an additional 33,551 shares during the quarter. ConocoPhillips comprises about 0.5% of Empowered Funds LLC’s holdings, making the stock its 20th biggest position. Empowered Funds LLC’s holdings in ConocoPhillips were worth $32,769,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Farmers & Merchants Investments Inc. raised its holdings in shares of ConocoPhillips by 1.2% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 107,029 shares of the energy producer’s stock worth $10,614,000 after acquiring an additional 1,252 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in ConocoPhillips by 9.3% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 76,009 shares of the energy producer’s stock valued at $7,538,000 after buying an additional 6,480 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in ConocoPhillips by 14.4% during the fourth quarter. Kingsview Wealth Management LLC now owns 27,013 shares of the energy producer’s stock valued at $2,679,000 after buying an additional 3,402 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in ConocoPhillips by 42.0% during the fourth quarter. Apollon Wealth Management LLC now owns 28,860 shares of the energy producer’s stock valued at $2,862,000 after buying an additional 8,533 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. raised its holdings in ConocoPhillips by 0.3% during the fourth quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 177,349 shares of the energy producer’s stock valued at $17,588,000 after buying an additional 596 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

NYSE:COP opened at $98.34 on Friday. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The firm has a 50 day moving average of $101.05 and a 200-day moving average of $106.18. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $113.18 billion, a P/E ratio of 12.62, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 anticipate that ConocoPhillips will post 8.3 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders 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 dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is currently 40.05%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on COP shares. Barclays raised their target price on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. TD Cowen assumed coverage on ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target on the stock. Susquehanna raised their price target on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Wells Fargo & Company lowered their price target on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price target for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $135.89.

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.