Cramer Rosenthal Mcglynn LLC Buys Shares of 97,627 ConocoPhillips (NYSE:COP)

Cramer Rosenthal Mcglynn LLC purchased a new stake in ConocoPhillips (NYSE:COP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 97,627 shares of the energy producer's stock, valued at approximately $9,682,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in ConocoPhillips by 11.7% in 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 acquiring an additional 12,751,120 shares during the last quarter. Invesco Ltd. raised its position 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 last quarter. Assenagon Asset Management S.A. lifted its stake 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 valued at $438,690,000 after buying an additional 3,541,504 shares in the last quarter. Geode Capital Management LLC grew its holdings in ConocoPhillips by 13.7% during the 4th 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 last quarter. Finally, Raymond James Financial Inc. purchased a new position in ConocoPhillips during the fourth quarter worth $232,859,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on COP. Barclays cut their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. UBS Group reduced their price objective on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Truist Financial increased 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. JPMorgan Chase & Co. lowered their price objective on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Finally, Scotiabank reduced their target price on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a research report on Friday, April 11th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ConocoPhillips presently has an average rating of "Moderate Buy" and an average target price of $128.32.

ConocoPhillips Stock Performance

NYSE COP traded up $2.59 on Tuesday, hitting $90.14. The stock had a trading volume of 1,490,884 shares, compared to its average volume of 7,096,112. The company's 50-day moving average is $95.03 and its two-hundred day moving average is $101.11. The stock has a market cap of $113.95 billion, a price-to-earnings ratio of 11.60, a P/E/G ratio of 0.79 and a beta of 0.83. ConocoPhillips has a one year low of $79.88 and a one year 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.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (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%. On average, analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Friday, February 14th. ConocoPhillips's dividend payout ratio (DPR) 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.