Horizon Investments LLC Buys 2,649 Shares of ConocoPhillips (NYSE:COP)

Horizon Investments LLC increased its stake in ConocoPhillips (NYSE:COP - Free Report) by 10.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,265 shares of the energy producer's stock after purchasing an additional 2,649 shares during the period. Horizon Investments LLC's holdings in ConocoPhillips were worth $2,902,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. State Street Corp raised its position in ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer's stock worth $7,046,263,000 after acquiring an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of ConocoPhillips by 20.2% in the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer's stock valued at $3,280,725,000 after acquiring an additional 5,240,016 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of ConocoPhillips by 3.9% during the third quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer's stock worth $2,601,639,000 after purchasing an additional 924,289 shares during the period. Fisher Asset Management LLC increased its stake in ConocoPhillips by 10.6% during the 4th 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 period. Finally, Franklin Resources Inc. increased its position in shares of ConocoPhillips by 12.5% in the third quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer's stock worth $1,469,163,000 after purchasing an additional 1,506,599 shares during the period. 82.36% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

Several research analysts have commented on the stock. Mizuho upgraded shares of ConocoPhillips from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Barclays reduced their price target on ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Wells Fargo & Company decreased their price objective on ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Raymond James lowered shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and lowered their price target for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. dropped their price objective on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $133.05.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock traded down $0.26 during trading hours on Friday, hitting $102.05. 55,090,100 shares of the company's stock traded hands, compared to its average volume of 6,433,374. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18. The company has a fifty day simple moving average of $99.21 and a 200-day simple moving average of $103.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a market capitalization of $129.84 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results 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%. Equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.06%. The ex-dividend date was Friday, February 14th. ConocoPhillips's dividend payout ratio (DPR) is currently 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.