Enhancing Capital LLC purchased a new position in ConocoPhillips (NYSE:COP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,900 shares of the energy producer's stock, valued at approximately $1,081,000.
A number of other hedge funds have also made changes to their positions in the stock. Xponance Inc. lifted its position in shares of ConocoPhillips by 35.4% in the fourth quarter. Xponance Inc. now owns 213,800 shares of the energy producer's stock worth $21,203,000 after purchasing an additional 55,868 shares in the last quarter. Boston Partners lifted its position in shares of ConocoPhillips by 24.5% in the fourth quarter. Boston Partners now owns 5,475,842 shares of the energy producer's stock worth $543,976,000 after purchasing an additional 1,078,063 shares in the last quarter. Evoke Wealth LLC lifted its position in shares of ConocoPhillips by 3.2% in the fourth quarter. Evoke Wealth LLC now owns 33,184 shares of the energy producer's stock worth $3,291,000 after purchasing an additional 1,028 shares in the last quarter. Horizon Investments LLC lifted its position in shares of ConocoPhillips by 10.0% in the fourth quarter. Horizon Investments LLC now owns 29,265 shares of the energy producer's stock worth $2,902,000 after purchasing an additional 2,649 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of ConocoPhillips by 44.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,750,826 shares of the energy producer's stock worth $174,069,000 after purchasing an additional 540,702 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have recently issued reports on COP. Morgan Stanley started coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They issued an "overweight" rating and a $128.00 price target for the company. Mizuho upgraded ConocoPhillips from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $132.00 to $134.00 in a report on Monday, December 16th. The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a report on Thursday, January 30th. UBS Group dropped their price objective on ConocoPhillips from $140.00 to $137.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. Finally, Wells Fargo & Company dropped their price objective on ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $133.05.
View Our Latest Research Report on COP
ConocoPhillips Stock Performance
Shares of ConocoPhillips stock traded down $0.26 during midday trading on Friday, hitting $102.05. The company had a trading volume of 55,090,100 shares, compared to its average volume of 6,427,545. The business's 50 day simple moving average is $99.21 and its two-hundred day simple moving average is $103.45. The stock has a market cap of $129.84 billion, a PE ratio of 13.10, a P/E/G ratio of 0.79 and a beta of 1.12. 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 has a 1-year low of $86.81 and a 1-year high of $135.18.
ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, equities analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.
ConocoPhillips Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.06%. ConocoPhillips's payout ratio is 40.05%.
ConocoPhillips Profile
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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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