3,587 Shares in ConocoPhillips (NYSE:COP) Purchased by West Michigan Advisors LLC

West Michigan Advisors LLC bought a new position in shares of ConocoPhillips (NYSE:COP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,587 shares of the energy producer’s stock, valued at approximately $356,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COP. AMF Tjanstepension AB raised its position in ConocoPhillips by 4.7% during the third quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock worth $122,628,000 after acquiring an additional 52,334 shares during the last quarter. Mutual Advisors LLC raised its position in ConocoPhillips by 3.0% during the third quarter. Mutual Advisors LLC now owns 13,739 shares of the energy producer’s stock worth $1,434,000 after acquiring an additional 398 shares during the last quarter. Diversify Wealth Management LLC raised its position in ConocoPhillips by 7.3% during the third quarter. Diversify Wealth Management LLC now owns 3,106 shares of the energy producer’s stock worth $325,000 after acquiring an additional 212 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its position in ConocoPhillips by 1.3% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 246,504 shares of the energy producer’s stock worth $25,952,000 after acquiring an additional 3,202 shares during the last quarter. Finally, Reston Wealth Management LLC acquired a new position in ConocoPhillips during the third quarter worth about $31,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the subject of a number of research reports. Evercore ISI restated an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a research report on Friday, December 6th. Susquehanna boosted their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Wells Fargo & Company cut their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Barclays cut their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Finally, Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $157.00 to $124.00 in a research report on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $133.47.

ConocoPhillips Price Performance

COP opened at $99.12 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The company has a 50 day moving average of $100.19 and a two-hundred day moving average of $105.08. The company has a market cap of $126.12 billion, a P/E ratio of 12.72, a P/E/G ratio of 0.79 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be paid a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.15%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Insider Activity

In other news, Director Arjun N. Murti bought 2,500 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

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.