Fisher Asset Management LLC Buys 4,656,040 Shares of ConocoPhillips (NYSE:COP)

Fisher Asset Management LLC raised its position in ConocoPhillips (NYSE:COP - Free Report) by 59.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,456,011 shares of the energy producer's stock after buying an additional 4,656,040 shares during the period. Fisher Asset Management LLC owned approximately 1.08% of ConocoPhillips worth $1,311,369,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vicus Capital raised its holdings in shares of ConocoPhillips by 3.7% during the 2nd quarter. Vicus Capital now owns 2,637 shares of the energy producer's stock valued at $302,000 after purchasing an additional 94 shares in the last quarter. Montag A & Associates Inc. raised its holdings in shares of ConocoPhillips by 2.5% during the 2nd quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer's stock valued at $446,000 after purchasing an additional 96 shares in the last quarter. Excalibur Management Corp raised its holdings in shares of ConocoPhillips by 2.4% during the 2nd quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer's stock valued at $462,000 after purchasing an additional 96 shares in the last quarter. Cypress Capital Group raised its holdings in shares of ConocoPhillips by 0.5% during the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer's stock valued at $1,978,000 after purchasing an additional 96 shares in the last quarter. Finally, First Hawaiian Bank raised its holdings in shares of ConocoPhillips by 0.3% during the 2nd quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer's stock valued at $4,202,000 after purchasing an additional 97 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on COP. BMO Capital Markets raised their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an "outperform" rating in a report on Friday, October 4th. Truist Financial lowered their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a "buy" rating on the stock in a research note on Monday, September 30th. Mizuho raised their target price on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Scotiabank lowered their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 10th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $140.00 price target on shares of ConocoPhillips in a research report on Friday, September 13th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $137.63.

ConocoPhillips Price Performance

COP stock traded down $5.72 during trading on Monday, hitting $106.03. 23,442,023 shares of the stock traded hands, compared to its average volume of 5,981,170. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The stock has a market cap of $122.03 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 0.91 and a beta of 1.21. The company has a 50 day simple moving average of $108.92 and a 200 day simple moving average of $111.11. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same period last year, the firm posted $2.16 EPS. The firm's quarterly revenue was down 8.5% on a year-over-year basis. Equities analysts expect that ConocoPhillips will post 7.78 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be issued a dividend of $0.78 per share. This is an increase from ConocoPhillips's previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.94%. The ex-dividend date is Friday, November 8th. ConocoPhillips's dividend payout ratio (DPR) is currently 37.10%.

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.