ConocoPhillips (NYSE:COP) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 13.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,131,288 shares of the energy producer's stock after buying an additional 3,397,360 shares during the quarter. Geode Capital Management LLC owned about 2.44% of ConocoPhillips worth $2,792,521,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in ConocoPhillips by 11.7% in the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock valued at $12,081,491,000 after purchasing an additional 12,751,120 shares during the last quarter. State Street Corp increased its stake in shares of ConocoPhillips by 19.0% during the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer's stock valued at $7,046,263,000 after acquiring an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of ConocoPhillips by 20.2% during the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer's stock worth $3,280,725,000 after acquiring an additional 5,240,016 shares during the period. Franklin Resources Inc. boosted its position in shares of ConocoPhillips by 6.4% in the fourth quarter. Franklin Resources Inc. now owns 14,420,058 shares of the energy producer's stock worth $1,430,034,000 after acquiring an additional 862,707 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of ConocoPhillips by 10.6% in the fourth quarter. Fisher Asset Management LLC now owns 13,780,782 shares of the energy producer's stock worth $1,366,640,000 after acquiring an additional 1,324,771 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

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ConocoPhillips Stock Performance

Shares of NYSE COP traded down $10.86 during trading on Thursday, reaching $95.24. The stock had a trading volume of 9,627,787 shares, compared to its average volume of 6,802,611. The firm's 50 day moving average price is $99.02 and its two-hundred day moving average price is $103.33. ConocoPhillips has a one year low of $86.81 and a one year high of $135.18. The stock has a market cap of $121.19 billion, a PE ratio of 12.24, 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 quick ratio of 1.14 and a current ratio of 1.29.

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 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, research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed 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 was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.28%. ConocoPhillips's payout ratio is currently 40.05%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on COP shares. JPMorgan Chase & Co. lowered their price target on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Truist Financial increased 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. Piper Sandler reduced their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating on the stock in a research report on Thursday, December 19th. TD Cowen initiated coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They issued a "buy" rating and a $125.00 price objective for the company. Finally, Mizuho upgraded shares of ConocoPhillips from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $132.00 to $134.00 in a report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips has an average rating of "Moderate Buy" and an average price target of $132.95.

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.