Intech Investment Management LLC Reduces Position in ConocoPhillips (NYSE:COP)

Intech Investment Management LLC decreased its position in ConocoPhillips (NYSE:COP - Free Report) by 35.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,611 shares of the energy producer's stock after selling 33,351 shares during the period. Intech Investment Management LLC's holdings in ConocoPhillips were worth $6,110,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COP. Albion Financial Group UT grew its holdings in ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock valued at $25,000 after purchasing an additional 228 shares during the period. Centricity Wealth Management LLC acquired a new stake in ConocoPhillips in the 4th quarter valued at $27,000. Truvestments Capital LLC purchased a new stake in ConocoPhillips in the 3rd quarter worth $31,000. Global Wealth Strategies & Associates raised its position in ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer's stock worth $34,000 after acquiring an additional 153 shares during the period. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at about $35,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Down 0.3 %

NYSE COP traded down $0.26 on Friday, reaching $102.05. The stock had a trading volume of 55,090,100 shares, compared to its average volume of 6,433,374. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $129.84 billion, a price-to-earnings ratio of 13.10, a P/E/G ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18. The stock has a fifty day moving average price of $99.21 and a two-hundred day moving average price of $103.40.

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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 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%. As a group, sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips's dividend payout ratio is currently 40.05%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on COP. Barclays decreased their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Morgan Stanley assumed coverage on ConocoPhillips in a research report on Monday, December 16th. They issued an "overweight" rating and a $128.00 target price on the stock. UBS Group decreased 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. Piper Sandler decreased their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Finally, Raymond James downgraded shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and decreased their price target for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $133.05.

About ConocoPhillips

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.