ConocoPhillips (NYSE:COP) Shares Bought by Bank of Montreal Can

Bank of Montreal Can grew its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,839,758 shares of the energy producer's stock after purchasing an additional 100,593 shares during the period. Bank of Montreal Can owned about 0.16% of ConocoPhillips worth $182,449,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in COP. EP Wealth Advisors LLC grew its stake in shares of ConocoPhillips by 22.6% in the third quarter. EP Wealth Advisors LLC now owns 38,690 shares of the energy producer's stock worth $4,073,000 after acquiring an additional 7,131 shares in the last quarter. iA Global Asset Management Inc. boosted its holdings in ConocoPhillips by 9.1% in the third quarter. iA Global Asset Management Inc. now owns 24,335 shares of the energy producer's stock valued at $2,562,000 after purchasing an additional 2,033 shares during the period. iSAM Funds UK Ltd acquired a new position in ConocoPhillips during the 3rd quarter worth $299,000. Nomura Asset Management Co. Ltd. increased its holdings in ConocoPhillips by 11.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 634,547 shares of the energy producer's stock worth $66,805,000 after purchasing an additional 64,378 shares during the period. Finally, Hamilton Capital LLC raised its position in ConocoPhillips by 10.6% in the 3rd quarter. Hamilton Capital LLC now owns 9,999 shares of the energy producer's stock valued at $1,095,000 after purchasing an additional 958 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

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Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Raymond James downgraded ConocoPhillips from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Wells Fargo & Company lowered their target price on shares of ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Morgan Stanley decreased their price target on ConocoPhillips from $131.00 to $126.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Piper Sandler dropped their price objective on ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Finally, Mizuho upgraded ConocoPhillips from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, ConocoPhillips presently has a consensus rating of "Moderate Buy" and an average price target of $131.84.

ConocoPhillips Stock Performance

Shares of COP traded up $1.97 during mid-day trading on Friday, hitting $85.26. 4,028,539 shares of the company's stock were exchanged, compared to its average volume of 7,027,526. The firm has a market capitalization of $107.78 billion, a P/E ratio of 10.90, a P/E/G ratio of 0.79 and a beta of 0.83. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $135.18. The business's 50 day moving average is $96.80 and its two-hundred day moving average is $102.17. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

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

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.66%. ConocoPhillips's payout ratio is currently 40.05%.

About ConocoPhillips

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.