ConocoPhillips (NYSE:COP) Position Reduced by Foundation Resource Management Inc.

Foundation Resource Management Inc. reduced its stake in ConocoPhillips (NYSE:COPGet Rating) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 311,294 shares of the energy producer’s stock after selling 4,718 shares during the quarter. ConocoPhillips comprises approximately 5.0% of Foundation Resource Management Inc.’s portfolio, making the stock its 8th biggest holding. Foundation Resource Management Inc.’s holdings in ConocoPhillips were worth $27,957,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Acropolis Investment Management LLC lifted its position in shares of ConocoPhillips by 21.7% in the second quarter. Acropolis Investment Management LLC now owns 1,618 shares of the energy producer’s stock valued at $145,000 after acquiring an additional 288 shares in the last quarter. Rosenberg Matthew Hamilton lifted its position in ConocoPhillips by 1.4% during the second quarter. Rosenberg Matthew Hamilton now owns 11,229 shares of the energy producer’s stock worth $1,022,000 after buying an additional 153 shares during the period. PDS Planning Inc lifted its position in ConocoPhillips by 5.8% during the second quarter. PDS Planning Inc now owns 8,984 shares of the energy producer’s stock worth $807,000 after buying an additional 493 shares during the period. IFM Investors Pty Ltd lifted its position in ConocoPhillips by 4.4% during the second quarter. IFM Investors Pty Ltd now owns 218,674 shares of the energy producer’s stock worth $19,639,000 after buying an additional 9,212 shares during the period. Finally, Smart Money Group LLC lifted its position in ConocoPhillips by 6.5% during the second quarter. Smart Money Group LLC now owns 2,562 shares of the energy producer’s stock worth $230,000 after buying an additional 157 shares during the period. 79.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ConocoPhillips

In other news, EVP Nicholas G. Olds sold 10,950 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $116.52, for a total value of $1,275,894.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.08% of the stock is owned by company insiders.

ConocoPhillips Stock Down 7.4 %

COP traded down $8.14 during trading on Friday, reaching $101.92. 268,724 shares of the stock traded hands, compared to its average volume of 6,914,243. The stock has a market cap of $131.83 billion, a price-to-earnings ratio of 8.46, a price-to-earnings-growth ratio of 0.39 and a beta of 1.31. ConocoPhillips has a fifty-two week low of $62.25 and a fifty-two week high of $124.08. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.54 and a quick ratio of 1.44. The stock’s 50-day simple moving average is $102.42 and its two-hundred day simple moving average is $101.24.

ConocoPhillips (NYSE:COPGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The energy producer reported $3.91 EPS for the quarter, missing analysts’ consensus estimates of $3.95 by ($0.04). ConocoPhillips had a return on equity of 31.24% and a net margin of 23.10%. During the same period in the prior year, the business earned $1.27 earnings per share. As a group, equities research analysts expect that ConocoPhillips will post 14.54 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a None dividend, which was paid on Thursday, September 1st. Stockholders of record on Tuesday, August 16th were issued a $1.40 dividend. The ex-dividend date of this dividend was Thursday, September 29th. ConocoPhillips’s payout ratio is currently 15.19%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. The Goldman Sachs Group reduced their target price on ConocoPhillips from $140.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, June 22nd. Truist Financial dropped their price target on ConocoPhillips from $126.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, July 13th. Bank of America upped their price target on ConocoPhillips from $134.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday. Morgan Stanley upped their price target on ConocoPhillips from $117.00 to $118.00 and gave the stock an “overweight” rating in a research note on Monday, August 29th. Finally, StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Tuesday, August 16th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $121.79.

About ConocoPhillips

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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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