Bessemer Group Inc. Acquires 1,023,967 Shares of ConocoPhillips (NYSE:COP)

Bessemer Group Inc. grew its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 39.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,603,574 shares of the energy producer's stock after acquiring an additional 1,023,967 shares during the quarter. Bessemer Group Inc. owned about 0.31% of ConocoPhillips worth $357,367,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Orrstown Financial Services Inc. boosted its position in shares of ConocoPhillips by 3.0% in the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer's stock worth $331,000 after purchasing an additional 96 shares during the last quarter. Principle Wealth Partners LLC boosted its holdings in ConocoPhillips by 0.3% during the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer's stock worth $3,695,000 after buying an additional 100 shares during the last quarter. Arlington Trust Co LLC grew its position in shares of ConocoPhillips by 1.2% during the 4th quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer's stock worth $857,000 after buying an additional 102 shares during the period. Courier Capital LLC raised its position in shares of ConocoPhillips by 0.5% in the 4th quarter. Courier Capital LLC now owns 20,481 shares of the energy producer's stock valued at $2,031,000 after acquiring an additional 103 shares during the period. Finally, Gray Wealth Management Inc. boosted its stake in ConocoPhillips by 5.0% during the 4th quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer's stock worth $215,000 after acquiring an additional 104 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on COP. Truist Financial lifted their price target 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. UBS Group dropped their price target on ConocoPhillips from $130.00 to $116.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Mizuho raised 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. JPMorgan Chase & Co. cut their price target 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. Finally, Scotiabank cut their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a research report on Friday. Two research 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 stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $130.79.

ConocoPhillips Trading Up 3.7 %

Shares of ConocoPhillips stock traded up $3.07 on Friday, reaching $86.36. 9,231,132 shares of the company's stock were exchanged, compared to its average volume of 7,066,449. The firm's 50-day moving average is $96.51 and its two-hundred day moving average is $102.04. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $132.61. The company has a market capitalization of $109.17 billion, a P/E ratio of 11.09, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. 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 (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Sell-side analysts predict 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. Shareholders of record on Monday, February 17th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Friday, February 14th. ConocoPhillips's dividend payout ratio (DPR) is presently 40.05%.

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.