Founders Capital Management Purchases 254 Shares of ConocoPhillips (NYSE:COP)

Founders Capital Management grew its holdings in ConocoPhillips (NYSE:COP) by 37.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 932 shares of the energy producer’s stock after acquiring an additional 254 shares during the quarter. Founders Capital Management’s holdings in ConocoPhillips were worth $92,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Values First Advisors Inc. bought a new position in shares of ConocoPhillips during the third quarter worth approximately $26,000. Reston Wealth Management LLC bought a new position in ConocoPhillips during the 3rd quarter worth $31,000. Truvestments Capital LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter valued at $31,000. Fairway Wealth LLC grew its holdings in shares of ConocoPhillips by 95.6% during the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after purchasing an additional 153 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of ConocoPhillips in the third quarter worth $35,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Up 1.6 %

COP traded up $1.59 during midday trading on Monday, hitting $103.51. 3,227,790 shares of the company were exchanged, compared to its average volume of 5,298,382. The firm’s 50 day moving average price is $104.39 and its 200-day moving average price is $107.70. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The firm has a market capitalization of $119.13 billion, a P/E ratio of 12.31, a P/E/G ratio of 0.83 and a beta of 1.19. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping 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 earned $2.16 EPS. The company’s revenue was down 8.5% compared to the same quarter last year. As a group, equities analysts forecast that ConocoPhillips will post 7.77 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued 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 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Insider Transactions at ConocoPhillips

In other news, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were acquired at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now owns 38,000 shares in the company, valued at $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction on Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of several recent analyst reports. Morgan Stanley assumed coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective for the company. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Susquehanna upped their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Truist Financial boosted their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday. Finally, Wells Fargo & Company lifted their target price on ConocoPhillips from $131.00 to $134.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips has an average rating of “Buy” and an average target price of $136.76.

ConocoPhillips Company Profile

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.