Farther Finance Advisors LLC Acquires 2,606 Shares of ConocoPhillips (NYSE:COP)

Farther Finance Advisors LLC grew its holdings in ConocoPhillips (NYSE:COP) by 21.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,759 shares of the energy producer’s stock after purchasing an additional 2,606 shares during the quarter. Farther Finance Advisors LLC’s holdings in ConocoPhillips were worth $1,464,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. State Street Corp boosted its stake in shares of ConocoPhillips by 19.0% in the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after purchasing an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP raised its position in shares of ConocoPhillips by 20.2% in the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after acquiring an additional 5,240,016 shares during the period. Geode Capital Management LLC raised its position in shares of ConocoPhillips by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock valued at $2,601,639,000 after acquiring an additional 924,289 shares during the period. Fisher Asset Management LLC raised its position in shares of ConocoPhillips by 10.6% in the 4th quarter. Fisher Asset Management LLC now owns 13,780,782 shares of the energy producer’s stock valued at $1,366,640,000 after acquiring an additional 1,324,771 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of ConocoPhillips by 12.5% in the 3rd quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock valued at $1,469,163,000 after acquiring an additional 1,506,599 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

NYSE:COP opened at $96.27 on Friday. ConocoPhillips has a 1-year low of $86.81 and a 1-year high of $135.18. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The firm has a fifty day simple moving average of $99.26 and a 200 day simple moving average of $103.97. The stock has a market capitalization of $122.49 billion, a PE ratio of 12.36, a P/E/G ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share 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%. On average, research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.24%. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Insider Activity at ConocoPhillips

In related news, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction on Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the transaction, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This trade represents 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 company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays cut their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Raymond James downgraded shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from $157.00 to $124.00 in a research report on Monday, February 10th. TD Cowen assumed coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target on the stock. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a report on Thursday, January 30th. Finally, Wells Fargo & Company dropped their target price on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $133.05.

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.