Forum Financial Management LP Buys 4,370 Shares of ConocoPhillips (NYSE:COP)

Forum Financial Management LP boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 23.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 23,049 shares of the energy producer’s stock after acquiring an additional 4,370 shares during the quarter. Forum Financial Management LP’s holdings in ConocoPhillips were worth $2,286,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of ConocoPhillips by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock worth $4,546,706,000 after buying an additional 5,549,078 shares during the period. Leavell Investment Management Inc. raised its stake in ConocoPhillips by 59.8% in the fourth quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock valued at $1,901,000 after buying an additional 7,174 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in ConocoPhillips in the fourth quarter valued at about $1,767,000. Asset Management One Co. Ltd. raised its stake in ConocoPhillips by 11.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 519,371 shares of the energy producer’s stock valued at $50,345,000 after buying an additional 54,196 shares during the last quarter. Finally, New York State Teachers Retirement System raised its stake in ConocoPhillips by 7.4% in the fourth quarter. New York State Teachers Retirement System now owns 1,170,901 shares of the energy producer’s stock valued at $116,118,000 after buying an additional 80,199 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $85.19 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock has a 50 day simple moving average of $92.15 and a 200-day simple moving average of $98.37. The company has a market cap of $107.69 billion, a PE ratio of 10.94, a P/E/G ratio of 0.79 and a beta of 0.64. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $119.23.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping the consensus estimate of $2.05 by $0.04. The firm had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same quarter in the previous year, the company earned $2.05 earnings per share. On average, equities research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Monday, May 19th. ConocoPhillips’s dividend payout ratio is currently 39.64%.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of research reports. Susquehanna cut their price objective on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a report on Monday, May 12th. Piper Sandler decreased their target price on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Barclays reduced their price objective on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley lifted their target price on ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Finally, Wells Fargo & Company cut their price objective on ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a report on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $121.89.

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.