Fisher Asset Management LLC Increases Stock Position in ConocoPhillips (NYSE:COP)

Fisher Asset Management LLC grew its stake in shares of ConocoPhillips (NYSE:COP) by 2.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,425,948 shares of the energy producer’s stock after buying an additional 204,714 shares during the quarter. Fisher Asset Management LLC’s holdings in ConocoPhillips were worth $861,930,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in COP. Orion Capital Management LLC purchased a new position in shares of ConocoPhillips in the third quarter worth approximately $27,000. West Branch Capital LLC boosted its holdings in shares of ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after buying an additional 108 shares during the last quarter. Oliver Lagore Vanvalin Investment Group boosted its holdings in shares of ConocoPhillips by 63.1% in the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after buying an additional 111 shares during the last quarter. Spartan Planning & Wealth Management purchased a new position in shares of ConocoPhillips in the third quarter worth approximately $40,000. Finally, Nemes Rush Group LLC boosted its holdings in shares of ConocoPhillips by 163.9% in the third quarter. Nemes Rush Group LLC now owns 380 shares of the energy producer’s stock worth $46,000 after buying an additional 236 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP stock traded down $1.70 during mid-day trading on Thursday, hitting $122.64. The company had a trading volume of 2,234,621 shares, compared to its average volume of 5,304,643. ConocoPhillips has a 52-week low of $95.70 and a 52-week high of $135.18. The stock’s 50 day moving average price is $123.43 and its 200-day moving average price is $117.72. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. The company has a market capitalization of $144.27 billion, a P/E ratio of 13.73, a P/E/G ratio of 2.76 and a beta of 1.25.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping the consensus estimate of $2.08 by $0.32. The firm had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same quarter in the previous year, the firm earned $2.71 earnings per share. Equities research analysts forecast that ConocoPhillips will post 9.11 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were paid a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a yield of 2.54%. ConocoPhillips’s dividend payout ratio is presently 25.61%.

Insider Activity at ConocoPhillips

In related news, CFO William L. Jr. Bullock sold 45,200 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the sale, the chief financial officer now owns 44,153 shares of the company’s stock, valued at $5,444,947.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the transaction, the executive vice president now owns 14,522 shares in the company, valued at $1,836,161.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO William L. Jr. Bullock sold 45,200 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the transaction, the chief financial officer now owns 44,153 shares in the company, valued at approximately $5,444,947.96. The disclosure for this sale can be found here. Insiders have sold a total of 700,775 shares of company stock valued at $87,615,169 over the last 90 days. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Susquehanna raised their price objective on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Barclays initiated coverage on shares of ConocoPhillips in a report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price target on the stock. Raymond James lowered their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Scotiabank lifted their price target on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Finally, UBS Group lifted their price target on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $142.65.

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.