LSV Asset Management Grows Stock Position in ConocoPhillips (NYSE:COP)

LSV Asset Management lifted its stake in ConocoPhillips (NYSE:COP - Free Report) by 291.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,228,528 shares of the energy producer's stock after acquiring an additional 914,478 shares during the period. LSV Asset Management owned 0.11% of ConocoPhillips worth $121,833,000 at the end of the most recent quarter.

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

ConocoPhillips Price Performance

NYSE COP traded down $0.08 during trading hours on Tuesday, reaching $86.37. The company's stock had a trading volume of 1,661,370 shares, compared to its average volume of 7,043,794. The firm has a market capitalization of $109.19 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 0.79 and a beta of 0.83. The company's 50-day moving average is $96.24 and its two-hundred day moving average is $101.91. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $132.61.

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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, 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%. On average, equities analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced 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 was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.61%. ConocoPhillips's dividend payout ratio (DPR) is 40.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Morgan Stanley cut their price target on shares of ConocoPhillips from $131.00 to $126.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Mizuho upgraded ConocoPhillips from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. Raymond James downgraded ConocoPhillips from a "strong-buy" rating to an "outperform" rating and dropped their price target for the company from $157.00 to $124.00 in a research note on Monday, February 10th. UBS Group reduced their price objective on ConocoPhillips from $116.00 to $111.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, TD Cowen initiated coverage on ConocoPhillips in a research report on Friday, January 17th. They issued a "buy" rating and a $125.00 target price on the stock. Two research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $128.84.

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.