Capital Research Global Investors Reduces Stock Position in ConocoPhillips (NYSE:COP)

Capital Research Global Investors trimmed its holdings in ConocoPhillips (NYSE:COP - Free Report) by 86.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 434,738 shares of the energy producer's stock after selling 2,795,766 shares during the quarter. Capital Research Global Investors' holdings in ConocoPhillips were worth $43,113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in COP. Albion Financial Group UT lifted its position in shares of ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock valued at $25,000 after purchasing an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of ConocoPhillips during the 4th quarter valued at $26,000. Centricity Wealth Management LLC purchased a new position in ConocoPhillips during the 4th quarter valued at about $27,000. Crowley Wealth Management Inc. bought a new stake in ConocoPhillips during the 4th quarter worth approximately $32,000. Finally, Global Wealth Strategies & Associates boosted its stake in ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer's stock valued at $34,000 after buying an additional 153 shares during the period. Institutional investors own 82.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price target on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. UBS Group cut their price target on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. TD Cowen began coverage on ConocoPhillips in a report on Friday, January 17th. They issued a "buy" rating and a $125.00 price objective for the company. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a research report on Thursday, January 30th. Finally, Truist Financial boosted their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a "buy" rating in a report on Monday, January 13th. Two research 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $126.89.

ConocoPhillips Price Performance

Shares of NYSE COP traded up $0.19 during midday trading on Wednesday, reaching $89.95. The stock had a trading volume of 7,699,576 shares, compared to its average volume of 7,138,979. 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 has a 12-month low of $79.88 and a 12-month high of $130.77. The stock has a 50-day moving average of $94.89 and a 200-day moving average of $101.03. The company has a market capitalization of $113.72 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83.

ConocoPhillips (NYSE:COP - Get Free Report) last released its 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 return on equity of 17.26% and a net margin of 16.23%. As a group, research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

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 of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.47%. ConocoPhillips's dividend payout ratio (DPR) is 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.