IMS Capital Management Acquires 500 Shares of ConocoPhillips (NYSE:COP)

IMS Capital Management raised its stake in ConocoPhillips (NYSE:COP) by 20.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,991 shares of the energy producer’s stock after acquiring an additional 500 shares during the quarter. IMS Capital Management’s holdings in ConocoPhillips were worth $315,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Values First Advisors Inc. acquired a new stake in ConocoPhillips in the third quarter valued at approximately $26,000. Stephens Consulting LLC boosted its holdings in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips during the third quarter worth about $31,000. Truvestments Capital LLC acquired a new position in ConocoPhillips in the 3rd quarter valued at approximately $31,000. Finally, Y.D. More Investments Ltd acquired a new stake in ConocoPhillips in the second quarter valued at $35,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $98.27 on Wednesday. ConocoPhillips has a 1-year low of $96.75 and a 1-year high of $135.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The stock has a market cap of $113.10 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 0.83 and a beta of 1.18. The stock’s fifty day simple moving average is $107.21 and its two-hundred day simple moving average is $109.41.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same quarter last year, the business posted $2.16 EPS. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. As a group, analysts forecast that ConocoPhillips will post 7.77 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is 37.10%.

Analysts Set New Price Targets

A number of equities analysts recently commented on COP shares. Barclays upped 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. Wells Fargo & Company upped their price objective on shares of ConocoPhillips from $131.00 to $134.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. Morgan Stanley began coverage on ConocoPhillips in a report on Monday. They set an “overweight” rating and a $128.00 price target for the company. Finally, BMO Capital Markets upped their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $139.24.

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.