4,388 Shares in ConocoPhillips (NYSE:COP) Bought by Permanent Capital Management LP

Permanent Capital Management LP purchased a new position in ConocoPhillips (NYSE:COP) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,388 shares of the energy producer’s stock, valued at approximately $435,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Albion Financial Group UT lifted its stake in ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares during the period. Centricity Wealth Management LLC purchased a new position in ConocoPhillips during the fourth quarter valued at $27,000. Truvestments Capital LLC purchased a new position in ConocoPhillips during the third quarter valued at $31,000. Global Wealth Strategies & Associates lifted its position in ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after buying an additional 153 shares during the period. Finally, RPg Family Wealth Advisory LLC purchased a new position in ConocoPhillips during the third quarter valued at $35,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on COP shares. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Wells Fargo & Company lowered their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $133.47.

Insider Buying and Selling

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

ConocoPhillips Stock Up 2.4 %

COP stock opened at $90.70 on Friday. ConocoPhillips has a twelve month low of $86.81 and a twelve month high of $135.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The stock has a market cap of $115.40 billion, a P/E ratio of 11.64, a PEG ratio of 0.79 and a beta of 1.12. The business’s 50-day moving average price is $99.53 and its 200-day moving average price is $104.38.

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

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.44%. ConocoPhillips’s dividend payout ratio is presently 40.05%.

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.