Price T Rowe Associates Inc. MD Has $4.55 Billion Stock Position in ConocoPhillips (NYSE:COP)

Price T Rowe Associates Inc. MD raised its stake in ConocoPhillips (NYSE:COP - Free Report) by 13.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,847,572 shares of the energy producer's stock after acquiring an additional 5,549,078 shares during the quarter. ConocoPhillips makes up approximately 0.5% of Price T Rowe Associates Inc. MD's investment portfolio, making the stock its 27th largest position. Price T Rowe Associates Inc. MD owned 3.98% of ConocoPhillips worth $4,546,706,000 as of its most recent SEC filing.

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

ConocoPhillips Trading Down 0.0 %

COP traded down $0.02 during trading on Friday, hitting $91.78. The company's stock had a trading volume of 4,736,631 shares, compared to its average volume of 7,140,070. The firm has a market capitalization of $116.03 billion, a P/E ratio of 11.78, a PEG ratio of 0.79 and a beta of 0.83. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $130.77. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The stock's fifty day moving average price is $94.67 and its 200-day moving average price is $100.80.

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

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.40%. ConocoPhillips's dividend payout ratio is 40.05%.

Analysts Set New Price Targets

Several equities analysts have commented on COP shares. JPMorgan Chase & Co. dropped their target price on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Barclays dropped their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday. Scotiabank reduced their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a report on Friday, April 11th. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a research note on Thursday, January 30th. Finally, Susquehanna set a $136.00 price objective on shares of ConocoPhillips in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $126.89.

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.