Foundation Resource Management Inc. Has $28.93 Million Stock Position in ConocoPhillips (NYSE:COP)

Foundation Resource Management Inc. decreased its position in shares of ConocoPhillips (NYSE:COP) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 291,691 shares of the energy producer’s stock after selling 3,313 shares during the quarter. ConocoPhillips comprises approximately 4.8% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 6th biggest holding. Foundation Resource Management Inc.’s holdings in ConocoPhillips were worth $28,927,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of COP. State Street Corp raised its position in shares of ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after purchasing an additional 10,663,093 shares during the period. Wellington Management Group LLP increased its stake in ConocoPhillips by 20.2% during the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after purchasing an additional 5,240,016 shares in the last quarter. Fisher Asset Management LLC raised its holdings in ConocoPhillips by 59.7% during the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock worth $1,311,369,000 after buying an additional 4,656,040 shares during the period. Pacer Advisors Inc. lifted its stake in ConocoPhillips by 5,422.3% in the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock valued at $482,996,000 after buying an additional 4,504,653 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of ConocoPhillips by 401.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock valued at $438,690,000 after buying an additional 3,541,504 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on COP. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Piper Sandler cut their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Barclays upped their price objective on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, UBS Group reduced their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Buy” and a consensus price target of $136.65.

ConocoPhillips Stock Performance

Shares of COP opened at $104.83 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The firm has a 50-day moving average of $104.21 and a 200-day moving average of $107.56. The company has a market cap of $120.65 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 0.83 and a beta of 1.19. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the company posted $2.16 earnings per share. As a group, equities analysts forecast that ConocoPhillips will post 7.77 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 2.98%. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Insiders Place Their Bets

In related news, Director R A. Walker purchased 10,400 shares of the stock in a transaction on Tuesday, December 17th. The shares were purchased 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 in the company, valued at $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The shares were purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the acquisition, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company 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.