ConocoPhillips $COP Stock Holdings Cut by Foundation Resource Management Inc.

Foundation Resource Management Inc. trimmed its stake in shares of ConocoPhillips (NYSE:COP) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,173 shares of the energy producer’s stock after selling 5,557 shares during the quarter. ConocoPhillips makes up about 2.9% of Foundation Resource Management Inc.’s portfolio, making the stock its 8th largest holding. Foundation Resource Management Inc.’s holdings in ConocoPhillips were worth $35,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. State Street Corp boosted its position in ConocoPhillips by 73.2% in the second quarter. State Street Corp now owns 118,591,447 shares of the energy producer’s stock valued at $12,328,767,000 after buying an additional 50,116,727 shares in the last quarter. BlackRock Inc. grew its stake in shares of ConocoPhillips by 3.0% during the second quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock worth $9,760,436,000 after buying an additional 2,712,703 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of ConocoPhillips by 12.0% during the second quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer’s stock worth $1,566,901,000 after buying an additional 1,609,759 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of ConocoPhillips during the second quarter worth $1,260,482,000. Finally, Primecap Management Co. CA acquired a new position in shares of ConocoPhillips during the second quarter worth $1,204,726,000. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Roth Capital upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price target for the company from $124.00 to $130.00 in a research note on Monday, June 22nd. Seaport Research Partners assumed coverage on ConocoPhillips in a research report on Thursday, September 3rd. They set a “neutral” rating on the stock. Susquehanna boosted their price objective on ConocoPhillips from $155.00 to $161.00 and gave the stock a “positive” rating in a research report on Tuesday, August 11th. UBS Group increased their target price on ConocoPhillips from $153.00 to $169.00 and gave the company a “buy” rating in a research report on Monday, September 14th. Finally, Zacks Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.62.

Insider Buying and Selling at ConocoPhillips

In related news, SVP Andrew Lundquist sold 9,487 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the sale, the senior vice president owned 9,593 shares of the company’s stock, valued at $1,296,493.95. The trade was a 49.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

ConocoPhillips Trading Down 0.8%

COP traded down $1.17 during trading on Monday, reaching $145.34. 4,342,119 shares of the company’s stock were exchanged, compared to its average volume of 8,054,775. ConocoPhillips has a one year low of $85.57 and a one year high of $146.70. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $174.60 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 1.45 and a beta of 0.24. The firm has a fifty day moving average price of $132.11 and a two-hundred day moving average price of $122.37.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $18.79 billion. During the same period in the prior year, the company posted $1.42 EPS. The company’s revenue was up 32.4% on a year-over-year basis. As a group, equities research analysts forecast that ConocoPhillips will post 11.19 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, August 17th. ConocoPhillips’s payout ratio is 44.44%.

ConocoPhillips Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.