Forum Financial Management LP Sells 17,503 Shares of ConocoPhillips $COP

Forum Financial Management LP lowered its position in ConocoPhillips (NYSE:COP) by 74.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,873 shares of the energy producer’s stock after selling 17,503 shares during the quarter. Forum Financial Management LP’s holdings in ConocoPhillips were worth $775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of COP. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of ConocoPhillips in the 4th quarter valued at $25,000. Strive Asset Management LLC purchased a new position in ConocoPhillips in the 3rd quarter worth $28,000. Board of the Pension Protection Fund bought a new stake in ConocoPhillips in the fourth quarter worth $28,000. KERR FINANCIAL PLANNING Corp bought a new stake in ConocoPhillips in the third quarter worth $28,000. Finally, Sfam LLC purchased a new stake in ConocoPhillips during the fourth quarter valued at about $34,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Down 0.4%

NYSE COP opened at $103.76 on Wednesday. The stock has a market cap of $126.41 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 1.20 and a beta of 0.11. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87. The stock has a 50 day simple moving average of $116.70 and a two-hundred day simple moving average of $112.07. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. The firm had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.09 earnings per share. On average, analysts forecast that ConocoPhillips will post 9.66 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were issued a $0.84 dividend. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 3.2%. ConocoPhillips’s payout ratio is 57.05%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Morgan Stanley decreased their price objective on ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating on the stock in a report on Friday, June 26th. Scotiabank raised their price target on ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Freedom Capital cut ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Zacks Research downgraded ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Finally, Mizuho boosted their price objective on ConocoPhillips from $136.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $134.76.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.