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

Forum Financial Management LP grew its holdings in ConocoPhillips (NYSE:COP) by 23.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,049 shares of the energy producer’s stock after purchasing 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 reporting period.

A number of other hedge funds have also modified their holdings of the company. Murphy & Mullick Capital Management Corp acquired a new stake in ConocoPhillips during the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at approximately $27,000. 10Elms LLP bought a new position in shares of ConocoPhillips in the fourth quarter valued at $28,000. Crowley Wealth Management Inc. bought a new position in shares of ConocoPhillips in the fourth quarter valued at $32,000. Finally, Marshall Investment Management LLC bought a new position in shares of ConocoPhillips in the fourth quarter valued at $36,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on COP shares. Scotiabank reduced their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. dropped their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Mizuho decreased their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a report on Thursday, January 30th. Finally, Morgan Stanley lifted 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 investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $121.89.

ConocoPhillips Stock Performance

Shares of COP stock opened at $85.19 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $119.23. The company has a market capitalization of $107.69 billion, a P/E ratio of 10.94, a PEG ratio of 0.79 and a beta of 0.64. The stock has a 50 day moving average price of $92.15 and a two-hundred day moving average price of $98.37.

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

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a $0.78 dividend. 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 (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.