Axxcess Wealth Management LLC Boosts Holdings in ConocoPhillips (NYSE:COP)

Axxcess Wealth Management LLC raised its holdings in ConocoPhillips (NYSE:COP - Free Report) by 17.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 39,779 shares of the energy producer's stock after acquiring an additional 5,912 shares during the quarter. Axxcess Wealth Management LLC's holdings in ConocoPhillips were worth $3,945,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer's stock worth $7,046,263,000 after buying an additional 10,663,093 shares during the period. Wellington Management Group LLP increased its position in shares of ConocoPhillips by 20.2% during the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer's stock worth $3,280,725,000 after buying an additional 5,240,016 shares during the period. Fisher Asset Management LLC increased its position in shares of ConocoPhillips by 59.7% during the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer's stock worth $1,311,369,000 after buying an additional 4,656,040 shares during the period. Pacer Advisors Inc. increased its position in shares of ConocoPhillips by 5,422.3% during the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer's stock worth $482,996,000 after buying an additional 4,504,653 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of 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. 82.36% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

COP has been the subject of several recent analyst reports. Piper Sandler decreased their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Evercore ISI reiterated an "outperform" rating and set a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. Mizuho raised shares of ConocoPhillips from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. Morgan Stanley began coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They set an "overweight" rating and a $128.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Two investment 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 MarketBeat.com, ConocoPhillips presently has a consensus rating of "Moderate Buy" and a consensus target price of $133.05.

ConocoPhillips Stock Down 0.3 %

Shares of COP stock traded down $0.26 on Friday, hitting $102.05. The stock had a trading volume of 55,090,100 shares, compared to its average volume of 6,427,545. The business has a 50 day moving average of $99.21 and a 200 day moving average of $103.45. The stock has a market cap of $129.84 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its 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, analysts expect 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 issued a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.06%. ConocoPhillips's dividend payout ratio is currently 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.