CenterBook Partners LP Buys New Position in ConocoPhillips (NYSE:COP)

CenterBook Partners LP acquired a new stake in ConocoPhillips (NYSE:COP - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,898 shares of the energy producer's stock, valued at approximately $2,072,000.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in ConocoPhillips by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock valued at $12,081,491,000 after acquiring an additional 12,751,120 shares in the last quarter. Invesco Ltd. lifted its stake in ConocoPhillips by 37.1% in the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock valued at $1,544,101,000 after acquiring an additional 4,211,939 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of ConocoPhillips by 401.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer's stock valued at $438,690,000 after purchasing an additional 3,541,504 shares during the last quarter. Geode Capital Management LLC lifted its position in ConocoPhillips by 13.7% during the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock worth $2,792,521,000 after buying an additional 3,397,360 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in ConocoPhillips in the fourth quarter valued at approximately $232,859,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COP has been the subject of several research reports. Wells Fargo & Company dropped their price target on ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating for the company in a report on Monday, February 10th. The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a report on Thursday, January 30th. Piper Sandler reduced their price target on ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating on the stock in a research report on Thursday, December 19th. Morgan Stanley cut their target price on ConocoPhillips from $131.00 to $126.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Finally, JPMorgan Chase & Co. cut their target price on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $129.74.

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ConocoPhillips Stock Performance

Shares of COP traded down $0.32 on Monday, reaching $86.07. 2,295,601 shares of the company's stock traded hands, compared to its average volume of 7,047,979. The stock's 50 day simple moving average is $96.51 and its two-hundred day simple moving average is $102.04. 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 has a 52-week low of $79.88 and a 52-week high of $132.61. The stock has a market cap of $108.81 billion, a PE ratio of 11.05, a PEG ratio of 0.79 and a beta of 0.83.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.62%. The ex-dividend date was Friday, February 14th. ConocoPhillips's dividend payout ratio (DPR) 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.