ConocoPhillips (NYSE:COP) Shares Acquired by Tidal Investments LLC

Tidal Investments LLC boosted its holdings in ConocoPhillips (NYSE:COP - Free Report) by 42.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 103,553 shares of the energy producer's stock after buying an additional 31,011 shares during the quarter. Tidal Investments LLC's holdings in ConocoPhillips were worth $10,902,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. State Street Corp grew its position in ConocoPhillips by 19.0% during the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer's stock worth $7,046,263,000 after purchasing an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of ConocoPhillips by 20.2% during the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer's stock worth $3,280,725,000 after buying an additional 5,240,016 shares during the last quarter. Fisher Asset Management LLC increased its position in ConocoPhillips by 59.7% in the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer's stock valued at $1,311,369,000 after acquiring an additional 4,656,040 shares during the period. Pacer Advisors Inc. raised its stake in ConocoPhillips by 5,422.3% during the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer's stock valued at $482,996,000 after acquiring an additional 4,504,653 shares during the last quarter. Finally, Primecap Management Co. CA lifted its position in ConocoPhillips by 48.9% during the 3rd quarter. Primecap Management Co. CA now owns 4,320,905 shares of the energy producer's stock worth $454,905,000 after acquiring an additional 1,418,900 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Up 0.2 %

Shares of ConocoPhillips stock traded up $0.20 during trading hours on Friday, reaching $101.11. 3,572,512 shares of the company's stock were exchanged, compared to its average volume of 6,005,731. ConocoPhillips has a 52-week low of $100.58 and a 52-week high of $135.18. The company has a fifty day moving average of $108.03 and a 200-day moving average of $109.85. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $116.37 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 0.84 and a beta of 1.18.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same period last year, the company earned $2.16 EPS. The firm's quarterly revenue was down 8.5% on a year-over-year basis. Sell-side analysts forecast that ConocoPhillips will post 7.77 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from ConocoPhillips's previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 3.09%. ConocoPhillips's payout ratio is currently 37.10%.

Analyst Ratings Changes

COP has been the subject of several recent research reports. JPMorgan Chase & Co. raised ConocoPhillips from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. BMO Capital Markets raised their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. Evercore ISI reissued an "outperform" rating and set a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Truist Financial lowered their price objective on ConocoPhillips from $145.00 to $138.00 and set a "buy" rating on the stock in a report on Monday, September 30th. Finally, Barclays increased their target price on ConocoPhillips from $135.00 to $137.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, ConocoPhillips presently has an average rating of "Moderate Buy" and a consensus target price of $139.18.

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.