Foundation Resource Management Inc. Trims Position in ConocoPhillips (NYSE:COP)

Foundation Resource Management Inc. decreased its stake in shares of ConocoPhillips (NYSE:COP) by 35.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 363,014 shares of the energy producer’s stock after selling 200,980 shares during the period. ConocoPhillips accounts for 3.6% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 12th biggest position. Foundation Resource Management Inc.’s holdings in ConocoPhillips were worth $19,926,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the business. State of Alaska Department of Revenue grew its position in shares of ConocoPhillips by 10.6% in the second quarter. State of Alaska Department of Revenue now owns 4,287 shares of the energy producer’s stock valued at $188,000 after purchasing an additional 410 shares during the period. National Pension Service boosted its holdings in ConocoPhillips by 10.3% in the second quarter. National Pension Service now owns 1,002,788 shares of the energy producer’s stock valued at $44,203,000 after acquiring an additional 93,852 shares during the last quarter. Liberty Capital Management Inc. boosted its holdings in ConocoPhillips by 91.7% in the second quarter. Liberty Capital Management Inc. now owns 4,182 shares of the energy producer’s stock valued at $181,000 after acquiring an additional 2,000 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its holdings in ConocoPhillips by 512.6% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 202,420 shares of the energy producer’s stock valued at $8,898,000 after acquiring an additional 169,376 shares during the last quarter. Finally, Ledyard National Bank boosted its holdings in ConocoPhillips by 4.4% in the second quarter. Ledyard National Bank now owns 8,558 shares of the energy producer’s stock valued at $376,000 after acquiring an additional 360 shares during the last quarter. 70.93% of the stock is owned by institutional investors.

In other news, Director Charles E. Bunch bought 2,000 shares of the business’s stock in a transaction on Monday, December 11th. The shares were bought at an average cost of $52.06 per share, with a total value of $104,120.00. Following the purchase, the director now directly owns 3,429 shares in the company, valued at $178,513.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.82% of the stock is owned by insiders.

Shares of ConocoPhillips (NYSE:COP) traded up $2.19 during trading hours on Wednesday, hitting $55.51. The stock had a trading volume of 6,612,440 shares, compared to its average volume of 6,230,000. ConocoPhillips has a one year low of $42.26 and a one year high of $61.31. The firm has a market cap of $66,360.00, a P/E ratio of -85.40, a PEG ratio of 1.74 and a beta of 1.32. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 1st. The energy producer reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. ConocoPhillips had a positive return on equity of 2.78% and a negative net margin of 2.04%. The company had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $7.70 billion. During the same quarter in the prior year, the firm earned ($0.26) EPS. research analysts expect that ConocoPhillips will post 2.79 earnings per share for the current fiscal year.

ConocoPhillips declared that its board has authorized a share buyback program on Wednesday, November 8th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the energy producer to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Monday, February 12th will be paid a dividend of $0.285 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.27. This represents a $1.14 annualized dividend and a yield of 2.05%. The ex-dividend date is Friday, February 9th. ConocoPhillips’s payout ratio is -175.38%.

A number of research analysts have commented on the company. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $61.00 price objective on the stock in a research note on Wednesday. Citigroup boosted their price target on ConocoPhillips from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Barclays boosted their price target on ConocoPhillips from $59.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Scotiabank reissued a “buy” rating and issued a $53.00 price objective on shares of ConocoPhillips in a report on Wednesday, November 1st. Finally, Morgan Stanley boosted their price objective on ConocoPhillips from $48.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $58.76.

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ConocoPhillips Profile

ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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