iA Global Asset Management Inc. Sells 3,752 Shares of ConocoPhillips (NYSE:COP)

iA Global Asset Management Inc. lowered its position in ConocoPhillips (NYSE:COP - Free Report) by 15.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,583 shares of the energy producer's stock after selling 3,752 shares during the quarter. iA Global Asset Management Inc.'s holdings in ConocoPhillips were worth $2,041,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp lifted its stake in ConocoPhillips by 19.0% in 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 purchasing an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP lifted its position 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 buying an additional 5,240,016 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of ConocoPhillips by 59.7% during the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer's stock worth $1,311,369,000 after acquiring an additional 4,656,040 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of ConocoPhillips by 401.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer's stock worth $438,690,000 after acquiring an additional 3,541,504 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of ConocoPhillips during the 4th quarter worth about $232,859,000. Institutional investors own 82.36% of the company's stock.

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ConocoPhillips Price Performance

NYSE:COP traded up $0.25 during trading hours on Tuesday, hitting $102.44. The company's stock had a trading volume of 6,556,167 shares, compared to its average volume of 6,428,549. ConocoPhillips has a twelve month low of $86.81 and a twelve month high of $135.18. 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 fifty day simple moving average of $99.12 and a 200-day simple moving average of $103.31. The company has a market capitalization of $130.34 billion, a P/E ratio of 13.15, a PEG ratio of 0.79 and a beta of 1.12.

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 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, analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.05%. ConocoPhillips's dividend payout ratio (DPR) is presently 40.05%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Piper Sandler cut their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a report on Thursday, January 30th. Evercore ISI restated an "outperform" rating and issued a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. JPMorgan Chase & Co. dropped their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, Truist Financial boosted their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a "buy" rating in a report on Monday, January 13th. Two investment 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 presently has an average rating of "Moderate Buy" and a consensus price target of $133.05.

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.