Legal & General Group Plc reduced its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 25.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,228,656 shares of the energy producer's stock after selling 2,410,751 shares during the period. Legal & General Group Plc owned 0.63% of ConocoPhillips worth $716,866,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in ConocoPhillips by 11.7% during the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock worth $12,081,491,000 after acquiring an additional 12,751,120 shares during the last quarter. Invesco Ltd. grew its holdings in shares of ConocoPhillips by 37.1% during the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock worth $1,544,101,000 after purchasing an additional 4,211,939 shares during the period. Assenagon Asset Management S.A. increased its position in ConocoPhillips by 401.5% during 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 purchasing an additional 3,541,504 shares in the last quarter. Geode Capital Management LLC raised its holdings in ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock valued at $2,792,521,000 after buying an additional 3,397,360 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in ConocoPhillips during the fourth quarter valued at approximately $232,859,000. 82.36% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have commented on the company. Wells Fargo & Company cut their price objective on ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Morgan Stanley dropped their target price on ConocoPhillips from $131.00 to $126.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. UBS Group decreased their price target on ConocoPhillips from $130.00 to $116.00 and set a "buy" rating for the company in a report on Monday. Mizuho raised shares of ConocoPhillips from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, Truist Financial boosted their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $131.84.
View Our Latest Report on COP
ConocoPhillips Stock Performance
Shares of COP stock traded down $0.56 on Monday, hitting $85.74. 12,868,881 shares of the stock traded hands, compared to its average volume of 6,909,675. The company's fifty day moving average is $98.19 and its 200 day moving average is $102.89. ConocoPhillips has a 1-year low of $81.34 and a 1-year high of $135.18. The company has a market capitalization of $108.38 billion, a PE ratio of 11.01, a PEG ratio of 0.79 and a beta of 0.83. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.
ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share 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%. On average, equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.
ConocoPhillips Announces Dividend
The business also recently announced 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. This represents a $3.12 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips's dividend payout ratio (DPR) is presently 40.05%.
About ConocoPhillips
(
Free Report)
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.
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