Clearbridge Investments LLC Decreases Position in ConocoPhillips (NYSE:COP)

Clearbridge Investments LLC reduced its stake in ConocoPhillips (NYSE:COP - Free Report) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,762,068 shares of the energy producer's stock after selling 56,974 shares during the quarter. Clearbridge Investments LLC owned about 0.33% of ConocoPhillips worth $373,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Albion Financial Group UT increased its position in shares of ConocoPhillips by 876.9% during the 4th 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 during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in ConocoPhillips during the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC purchased a new position in shares of ConocoPhillips during the fourth quarter worth approximately $27,000. Crowley Wealth Management Inc. bought a new stake in shares of ConocoPhillips in the 4th quarter worth approximately $32,000. Finally, Marshall Investment Management LLC purchased a new stake in shares of ConocoPhillips in the 4th quarter valued at $36,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Up 0.2 %

COP traded up $0.17 during trading on Wednesday, reaching $105.56. The stock had a trading volume of 2,654,035 shares, compared to its average volume of 6,765,532. ConocoPhillips has a one year low of $86.81 and a one year high of $135.18. The company has a market capitalization of $134.31 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 0.79 and a beta of 1.12. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock's 50 day moving average is $98.96 and its two-hundred day moving average is $103.31.

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ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results 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 net margin of 16.23% and a return on equity of 17.26%. As a group, analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.96%. ConocoPhillips's dividend payout ratio is currently 40.05%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Truist Financial lifted their target price 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. Morgan Stanley decreased their price objective on ConocoPhillips from $131.00 to $126.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Barclays dropped their target price on ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating for the company in a report on Monday, February 10th. UBS Group lowered their price objective on ConocoPhillips from $140.00 to $137.00 and set a "buy" rating for the company in a research report on Wednesday, February 12th. Finally, Evercore ISI restated an "outperform" rating and issued a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $132.95.

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.