Townsend Asset Management Corp NC ADV Has $346,000 Holdings in ConocoPhillips (NYSE:COP)

Townsend Asset Management Corp NC ADV decreased its holdings in ConocoPhillips (NYSE:COP) by 15.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,488 shares of the energy producer’s stock after selling 620 shares during the period. Townsend Asset Management Corp NC ADV’s holdings in ConocoPhillips were worth $346,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in COP. Albion Financial Group UT lifted its position in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after buying an additional 228 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of ConocoPhillips in the fourth quarter worth $27,000. Truvestments Capital LLC purchased a new stake in shares of ConocoPhillips during the third quarter worth $31,000. Global Wealth Strategies & Associates boosted 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 purchasing an additional 153 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new position in ConocoPhillips in the third quarter valued at about $35,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on COP. Evercore ISI reiterated an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. UBS Group cut their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price target for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Finally, The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.47.

ConocoPhillips Stock Performance

NYSE:COP opened at $88.98 on Thursday. The firm has a market capitalization of $113.21 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. 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 12-month low of $86.81 and a 12-month high of $135.18. The firm has a 50-day moving average price of $99.82 and a 200 day moving average price of $104.64.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating 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%. Research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s payout ratio is currently 40.05%.

Insider Buying and Selling

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

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.