ConocoPhillips (NYSE:COP) Shares Purchased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. boosted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 116.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,318,179 shares of the energy producer's stock after purchasing an additional 2,324,080 shares during the period. ConocoPhillips makes up 0.7% of Adage Capital Partners GP L.L.C.'s holdings, making the stock its 19th biggest holding. Adage Capital Partners GP L.L.C. owned 0.38% of ConocoPhillips worth $428,234,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of COP. Vanguard Group Inc. lifted its stake in shares of ConocoPhillips by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock valued at $12,081,491,000 after purchasing an additional 12,751,120 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in ConocoPhillips by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock valued at $4,546,706,000 after buying an additional 5,549,078 shares during the period. Invesco Ltd. lifted its position in ConocoPhillips by 37.1% in the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock valued at $1,544,101,000 after buying an additional 4,211,939 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in ConocoPhillips by 401.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer's stock worth $438,690,000 after buying an additional 3,541,504 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of ConocoPhillips by 13.7% during the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock valued at $2,792,521,000 after acquiring an additional 3,397,360 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

ConocoPhillips stock traded down $0.02 during midday trading on Friday, hitting $91.78. 4,736,631 shares of the company's stock were exchanged, compared to its average volume of 7,153,968. The firm's 50 day simple moving average is $94.56 and its 200 day simple moving average is $100.67. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $130.77. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The stock has a market cap of $116.03 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data 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 return on equity of 17.26% and a net margin of 16.23%. Equities research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips's dividend payout ratio (DPR) is presently 40.05%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Susquehanna set a $136.00 price objective on shares of ConocoPhillips in a research report on Tuesday. Truist Financial boosted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a "buy" rating in a report on Monday, January 13th. Wells Fargo & Company lowered their target price on ConocoPhillips from $131.00 to $116.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a research report on Thursday, January 30th. Finally, Royal Bank of Canada lowered their price objective on shares of ConocoPhillips from $133.00 to $120.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of "Moderate Buy" and a consensus target price of $126.89.

ConocoPhillips 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.