Adams Natural Resources Fund Inc. Acquires 59,127 Shares of ConocoPhillips (NYSE:COP)

Adams Natural Resources Fund Inc. lifted its holdings in ConocoPhillips (NYSE:COP - Free Report) by 16.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 408,703 shares of the energy producer's stock after purchasing an additional 59,127 shares during the period. ConocoPhillips comprises 6.4% of Adams Natural Resources Fund Inc.'s holdings, making the stock its 3rd biggest holding. Adams Natural Resources Fund Inc.'s holdings in ConocoPhillips were worth $40,531,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp lifted its position in shares of ConocoPhillips by 19.0% in the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer's stock valued at $7,046,263,000 after acquiring an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP raised its stake in ConocoPhillips by 20.2% during the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer's stock valued at $3,280,725,000 after purchasing an additional 5,240,016 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer's stock valued at $1,311,369,000 after purchasing an additional 4,656,040 shares in the last quarter. Assenagon Asset Management S.A. boosted its position 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 worth $438,690,000 after buying an additional 3,541,504 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in ConocoPhillips during the fourth quarter valued at $232,859,000. 82.36% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on COP shares. Wells Fargo & Company decreased their price objective on ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. TD Cowen initiated coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a "buy" rating and a $125.00 target price on the stock. UBS Group decreased their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a "buy" rating for the company in a report on Wednesday, February 12th. Truist Financial lifted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Finally, Barclays decreased their target price on ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Two investment 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $133.05.

ConocoPhillips Price Performance

NYSE COP traded up $0.25 during trading on Tuesday, reaching $102.44. 6,556,167 shares of the company traded hands, compared to its average volume of 6,428,549. ConocoPhillips has a 1-year low of $86.81 and a 1-year high of $135.18. The company has a market cap of $130.34 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 0.79 and a beta of 1.12. The stock's 50 day moving average price is $99.12 and its two-hundred day moving average price is $103.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating 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%. As a group, analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips's payout ratio is 40.05%.

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.