MTM Investment Management LLC Increases Holdings in ConocoPhillips (NYSE:COP)

MTM Investment Management LLC lifted its position in shares of ConocoPhillips (NYSE:COP) by 17.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,815 shares of the energy producer’s stock after acquiring an additional 415 shares during the quarter. MTM Investment Management LLC’s holdings in ConocoPhillips were worth $279,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Tidal Investments LLC lifted its stake in ConocoPhillips by 42.7% in the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock valued at $10,902,000 after buying an additional 31,011 shares in the last quarter. Brookstone Capital Management lifted its stake in ConocoPhillips by 4.5% in the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after buying an additional 383 shares in the last quarter. Prospera Financial Services Inc lifted its stake in ConocoPhillips by 23.6% in the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after buying an additional 13,595 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of ConocoPhillips by 1.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock worth $262,094,000 after purchasing an additional 46,621 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in shares of ConocoPhillips by 5,422.3% during the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after purchasing an additional 4,504,653 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $98.42 on Thursday. The firm’s 50-day moving average price is $100.83 and its two-hundred day moving average price is $105.97. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The stock has a market capitalization of $113.27 billion, a P/E ratio of 12.63, a P/E/G ratio of 0.77 and a beta of 1.18. The company has a quick ratio of 1.16, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 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%. As a group, sell-side analysts forecast that ConocoPhillips will post 8.3 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.17%. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. Barclays dropped their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday. TD Cowen began coverage on ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. Finally, Evercore ISI restated an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.56.

Insider Activity at ConocoPhillips

In related news, Director Arjun N. Murti acquired 2,500 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were acquired at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director R A. Walker acquired 10,400 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were bought at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the purchase, the director now directly 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. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Company 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.