Alliancebernstein L.P. Purchases 327,241 Shares of ConocoPhillips (NYSE:COP)

Alliancebernstein L.P. raised its stake in ConocoPhillips (NYSE:COP - Free Report) by 18.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,087,500 shares of the energy producer's stock after buying an additional 327,241 shares during the period. Alliancebernstein L.P. owned about 0.18% of ConocoPhillips worth $207,017,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Albion Financial Group UT grew its position in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock worth $25,000 after buying an additional 228 shares during the period. Murphy & Mullick Capital Management Corp acquired a new stake in ConocoPhillips in the fourth quarter worth $26,000. Centricity Wealth Management LLC bought a new stake in ConocoPhillips in the fourth quarter valued at $27,000. Crowley Wealth Management Inc. acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at about $32,000. Finally, Marshall Investment Management LLC acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Analyst Ratings Changes

COP has been the topic of several recent research reports. Morgan Stanley cut their price target on ConocoPhillips from $131.00 to $126.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. UBS Group cut their target price on ConocoPhillips from $140.00 to $137.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. TD Cowen assumed coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a "buy" rating and a $125.00 price target for the company. Truist Financial raised their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Finally, Mizuho upgraded shares of ConocoPhillips from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $132.00 to $134.00 in a report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, ConocoPhillips currently has a consensus rating of "Moderate Buy" and a consensus price target of $132.95.

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ConocoPhillips Stock Performance

NYSE COP traded down $10.13 during trading hours on Thursday, reaching $95.97. 8,904,843 shares of the company were exchanged, compared to its average volume of 6,797,846. The stock has a market capitalization of $122.11 billion, a P/E ratio of 12.35, a P/E/G ratio of 0.79 and a beta of 1.12. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18. The business's 50 day simple moving average is $99.02 and its 200-day simple moving average is $103.33.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.25%. ConocoPhillips's dividend payout ratio is 40.05%.

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.