5,571 Shares in ConocoPhillips (NYSE:COP) Acquired by AlphaCore Capital LLC

AlphaCore Capital LLC bought a new position in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,571 shares of the energy producer’s stock, valued at approximately $552,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Forum Financial Management LP lifted its holdings in ConocoPhillips by 23.4% during the 4th quarter. Forum Financial Management LP now owns 23,049 shares of the energy producer’s stock worth $2,286,000 after purchasing an additional 4,370 shares during the last quarter. Peak Retirement Planning Inc. bought a new position in ConocoPhillips during the fourth quarter worth about $1,106,000. Formidable Asset Management LLC increased its position in ConocoPhillips by 22.9% during the fourth quarter. Formidable Asset Management LLC now owns 3,385 shares of the energy producer’s stock worth $336,000 after acquiring an additional 630 shares during the period. North Star Asset Management Inc. increased its position in ConocoPhillips by 10.4% during the fourth quarter. North Star Asset Management Inc. now owns 4,363 shares of the energy producer’s stock worth $433,000 after acquiring an additional 410 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new stake in ConocoPhillips during the fourth quarter worth approximately $35,074,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on COP shares. Bank of America reduced their price target on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a research report on Friday. UBS Group reduced their price objective on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. JPMorgan Chase & Co. cut their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Barclays cut their target price on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Finally, Morgan Stanley upped their target price on ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.89.

ConocoPhillips Price Performance

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

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The company had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. During the same quarter in the prior year, the business posted $2.05 EPS. Sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

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

ConocoPhillips 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.