ConocoPhillips (NYSE:COP) Shares Bought by Corebridge Financial Inc.

Corebridge Financial Inc. raised its stake in ConocoPhillips (NYSE:COP - Free Report) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 297,300 shares of the energy producer's stock after purchasing an additional 12,420 shares during the quarter. Corebridge Financial Inc.'s holdings in ConocoPhillips were worth $29,483,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of COP. Vanguard Group Inc. raised its holdings in shares of ConocoPhillips by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock valued at $12,081,491,000 after buying an additional 12,751,120 shares during the period. State Street Corp lifted its position in shares of ConocoPhillips by 19.0% during the third 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 in the last quarter. Wellington Management Group LLP boosted its stake in shares of ConocoPhillips by 20.2% in the third 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 grew its holdings in ConocoPhillips by 59.7% during 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 purchasing an additional 4,656,040 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in ConocoPhillips by 401.5% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

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ConocoPhillips Stock Performance

ConocoPhillips stock traded up $0.25 during mid-day trading on Tuesday, hitting $102.44. 6,556,167 shares of the company's stock traded hands, compared to its average volume of 6,428,560. ConocoPhillips has a one year low of $86.81 and a one year high of $135.18. The company has a market cap of $130.34 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The firm has a 50 day moving average price of $99.12 and a 200 day moving average price of $103.31. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts forecast 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. Investors of record on Monday, February 17th were paid 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 yield of 3.05%. ConocoPhillips's dividend payout ratio is currently 40.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on COP shares. Morgan Stanley initiated coverage on ConocoPhillips in a research note on Monday, December 16th. They set an "overweight" rating and a $128.00 price objective for the company. Barclays cut their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Evercore ISI reissued an "outperform" rating and issued a $165.00 target price on shares of ConocoPhillips in a research report on Friday, December 6th. Truist Financial lifted their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Finally, The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of "Moderate Buy" and an average target price of $133.05.

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.