Edge Capital Group LLC Increases Holdings in ConocoPhillips (NYSE:COP)

Edge Capital Group LLC raised its stake in shares of ConocoPhillips (NYSE:COP) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,898 shares of the energy producer’s stock after buying an additional 644 shares during the period. Edge Capital Group LLC’s holdings in ConocoPhillips were worth $2,072,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Albion Financial Group UT raised its stake in ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after buying an additional 228 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of ConocoPhillips during the 4th quarter valued at $27,000. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter valued at $31,000. Truvestments Capital LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter valued at $31,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter valued at $35,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 4.0 %

COP opened at $97.90 on Monday. The firm has a 50-day simple moving average of $100.11 and a two-hundred day simple moving average of $105.43. 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 company has a market capitalization of $124.57 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (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%. Analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s dividend payout ratio is 40.05%.

Insider Activity

In other news, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the transaction, the director now directly owns 38,000 shares in the company, valued at $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. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on COP shares. Evercore ISI reissued an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research 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 for the company in a research report on Wednesday, February 12th. Morgan Stanley initiated coverage on shares of ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price for the company. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a report on Thursday, January 30th. Finally, Barclays dropped their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $133.47.

About ConocoPhillips

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.