Fernwood Investment Management LLC Has $1.30 Million Holdings in ConocoPhillips (NYSE:COP)

Fernwood Investment Management LLC decreased its holdings in ConocoPhillips (NYSE:COP) by 3.5% in the 4th quarter, HoldingsChannel reports. The firm owned 13,105 shares of the energy producer’s stock after selling 470 shares during the quarter. Fernwood Investment Management LLC’s holdings in ConocoPhillips were worth $1,300,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Martingale Asset Management L P lifted its position in shares of ConocoPhillips by 258.0% during the fourth quarter. Martingale Asset Management L P now owns 28,052 shares of the energy producer’s stock worth $2,782,000 after purchasing an additional 20,216 shares in the last quarter. Advisory Services Network LLC raised its stake in shares of ConocoPhillips by 0.6% during the fourth quarter. Advisory Services Network LLC now owns 117,828 shares of the energy producer’s stock worth $11,685,000 after buying an additional 746 shares during the last quarter. Applied Finance Capital Management LLC lifted its holdings in ConocoPhillips by 1.6% in the fourth quarter. Applied Finance Capital Management LLC now owns 228,503 shares of the energy producer’s stock valued at $22,661,000 after buying an additional 3,608 shares during the period. Renaissance Group LLC bought a new position in ConocoPhillips in the fourth quarter valued at approximately $281,000. Finally, Bank of Nova Scotia lifted its stake in shares of ConocoPhillips by 201.0% in the 4th quarter. Bank of Nova Scotia now owns 909,684 shares of the energy producer’s stock valued at $90,224,000 after purchasing an additional 607,475 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 3.6 %

Shares of COP opened at $82.58 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 52-week low of $80.58 and a 52-week high of $135.18. The firm has a market cap of $104.40 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 0.79 and a beta of 0.83. The business’s fifty day moving average is $97.44 and its 200-day moving average is $102.55.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their target price for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Barclays reduced their price target on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. UBS Group cut their price objective on ConocoPhillips from $130.00 to $116.00 and set a “buy” rating for the company in a research report on Monday. Finally, Truist Financial lifted their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $131.84.

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.