Fulcrum Capital LLC Decreases Stake in ConocoPhillips $COP

Fulcrum Capital LLC lowered its holdings in ConocoPhillips (NYSE:COP) by 10.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,097 shares of the energy producer’s stock after selling 345 shares during the quarter. Fulcrum Capital LLC’s holdings in ConocoPhillips were worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Elevation Point Wealth Partners LLC increased its position in ConocoPhillips by 83.0% during the first quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer’s stock valued at $1,897,000 after acquiring an additional 8,189 shares during the last quarter. Schwartz Investment Counsel Inc. increased its position in ConocoPhillips by 159.6% during the first quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer’s stock valued at $5,125,000 after acquiring an additional 30,000 shares during the last quarter. Aberdeen Group plc increased its position in ConocoPhillips by 49.3% during the first quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock valued at $83,969,000 after acquiring an additional 264,726 shares during the last quarter. ORG Wealth Partners LLC increased its position in ConocoPhillips by 853.3% during the first quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer’s stock valued at $698,000 after acquiring an additional 5,922 shares during the last quarter. Finally, Hennessy Advisors Inc. increased its position in ConocoPhillips by 151.1% during the first quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer’s stock valued at $9,580,000 after acquiring an additional 54,900 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of ConocoPhillips in a research report on Wednesday. Roth Capital reiterated a “buy” rating on shares of ConocoPhillips in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. boosted their price target on ConocoPhillips from $114.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday. Scotiabank boosted their price target on ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a report on Friday, July 11th. Finally, Mizuho cut their price target on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $117.23.

ConocoPhillips Stock Performance

NYSE:COP opened at $87.83 on Friday. The firm has a market capitalization of $109.70 billion, a PE ratio of 11.79, a P/E/G ratio of 2.44 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The stock has a 50-day simple moving average of $94.60 and a two-hundred day simple moving average of $92.59. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $115.38.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The firm had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.98 earnings per share. Analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.6%. ConocoPhillips’s dividend payout ratio is 41.88%.

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.