Beacon Investment Advisory Services Inc. cut its stake in shares of ConocoPhillips (NYSE:COP) by 43.7% in the 4th quarter, Holdings Channel reports. The fund owned 8,892 shares of the energy producer’s stock after selling 6,909 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in ConocoPhillips were worth $488,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. increased its position in ConocoPhillips by 468.8% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock worth $100,000 after purchasing an additional 1,500 shares during the period. Krilogy Financial LLC increased its position in ConocoPhillips by 48.6% during the 2nd quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock worth $105,000 after purchasing an additional 782 shares during the period. Rocky Mountain Advisers LLC increased its position in ConocoPhillips by 140.2% during the 3rd quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock worth $120,000 after purchasing an additional 1,396 shares during the period. Clear Perspective Advisors LLC increased its position in ConocoPhillips by 75.5% during the 2nd quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock worth $123,000 after purchasing an additional 1,200 shares during the period. Finally, TLP Group LLC acquired a new position in ConocoPhillips during the 2nd quarter worth approximately $142,000. 70.93% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Charles E. Bunch bought 2,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, December 11th. The shares were purchased at an average price of $52.06 per share, with a total value of $104,120.00. Following the purchase, the director now owns 3,429 shares in the company, valued at $178,513.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Several equities analysts have issued reports on the company. Citigroup boosted their target price on ConocoPhillips from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Barclays upped their price target on ConocoPhillips from $59.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Piper Jaffray Companies restated a “buy” rating and issued a $63.00 price target on shares of ConocoPhillips in a report on Wednesday, January 24th. Morgan Stanley upped their price target on ConocoPhillips from $48.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Finally, Cowen set a $70.00 price target on ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. ConocoPhillips presently has an average rating of “Buy” and a consensus price target of $59.06.

Shares of ConocoPhillips (NYSE COP) opened at $53.32 on Wednesday. ConocoPhillips has a 52 week low of $42.26 and a 52 week high of $61.31. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $63,740.00, a P/E ratio of -82.03, a P/E/G ratio of 1.70 and a beta of 1.32.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 1st. The energy producer reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. ConocoPhillips had a positive return on equity of 2.78% and a negative net margin of 2.04%. The firm had revenue of $8.74 billion for the quarter, compared to analyst estimates of $7.70 billion. During the same quarter in the prior year, the company earned ($0.26) EPS. equities analysts forecast that ConocoPhillips will post 2.79 earnings per share for the current year.

ConocoPhillips declared that its Board of Directors has authorized a share repurchase program on Wednesday, November 8th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the energy producer to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be paid a $0.285 dividend. The ex-dividend date is Friday, February 9th. This represents a $1.14 dividend on an annualized basis and a yield of 2.14%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.27. ConocoPhillips’s dividend payout ratio is presently -175.38%.

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About ConocoPhillips

ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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