Catalyst Funds Management Pty Ltd Takes $744,000 Position in ConocoPhillips (NYSE:COP)

Catalyst Funds Management Pty Ltd acquired a new position in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,500 shares of the energy producer’s stock, valued at approximately $744,000.

Other hedge funds also recently modified their holdings of the company. Albion Financial Group UT boosted its stake in ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in ConocoPhillips during the 4th quarter worth approximately $27,000. Truvestments Capital LLC bought a new position in ConocoPhillips in the third quarter valued at approximately $31,000. Global Wealth Strategies & Associates boosted its holdings in shares of ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after buying an additional 153 shares during the period. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of ConocoPhillips during the third quarter worth $35,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

COP opened at $99.10 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18. The business has a 50 day moving average of $99.22 and a 200-day moving average of $103.81. The stock has a market cap of $126.09 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.15%. ConocoPhillips’s dividend payout ratio (DPR) is currently 40.05%.

Wall Street Analysts Forecast Growth

COP has been the topic of several research reports. TD Cowen initiated coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective on the stock. The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a report on Thursday, January 30th. Barclays decreased their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Wells Fargo & Company cut their target price on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $133.05.

Insider Buying and Selling at ConocoPhillips

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

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.