Xponance Inc. Raises Position in ConocoPhillips (NYSE:COP)

Xponance Inc. grew its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 35.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 213,800 shares of the energy producer's stock after acquiring an additional 55,868 shares during the period. Xponance Inc.'s holdings in ConocoPhillips were worth $21,203,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of COP. Atlanta Consulting Group Advisors LLC bought a new position in shares of ConocoPhillips during the 3rd quarter valued at approximately $410,000. Claro Advisors LLC boosted its holdings in ConocoPhillips by 23.5% in the 3rd quarter. Claro Advisors LLC now owns 4,215 shares of the energy producer's stock worth $444,000 after buying an additional 803 shares during the period. Strengthening Families & Communities LLC boosted its holdings in ConocoPhillips by 11.2% in the 3rd quarter. Strengthening Families & Communities LLC now owns 16,403 shares of the energy producer's stock worth $1,727,000 after buying an additional 1,655 shares during the period. Drive Wealth Management LLC boosted its holdings in ConocoPhillips by 3.2% in the 3rd quarter. Drive Wealth Management LLC now owns 15,455 shares of the energy producer's stock worth $1,627,000 after buying an additional 475 shares during the period. Finally, Cassaday & Co Wealth Management LLC boosted its holdings in ConocoPhillips by 6.3% in the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 4,328 shares of the energy producer's stock worth $456,000 after buying an additional 255 shares during the period. 82.36% of the stock is owned by institutional investors.

Remove Ads

Wall Street Analyst Weigh In

Several research analysts recently commented on COP shares. Raymond James downgraded shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and cut their price objective for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Truist Financial raised their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Piper Sandler cut their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. Morgan Stanley assumed coverage on shares of ConocoPhillips in a report on Monday, December 16th. They issued an "overweight" rating and a $128.00 price objective for the company. Finally, UBS Group lowered their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a "buy" rating on the stock in a research note on Wednesday, February 12th. Two investment 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 stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of "Moderate Buy" and an average price target of $133.05.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock traded down $0.26 on Friday, hitting $102.05. 55,090,100 shares of the company traded hands, compared to its average volume of 6,427,545. The firm's 50-day simple moving average is $99.21 and its 200 day simple moving average is $103.45. 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 company has a market cap of $129.84 billion, a P/E ratio of 13.10, a P/E/G ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18.

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

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Friday, February 14th. ConocoPhillips's payout ratio is presently 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.