Invesco Ltd. Acquires 4,211,939 Shares of ConocoPhillips (NYSE:COP)

Invesco Ltd. raised its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 37.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 15,570,246 shares of the energy producer's stock after purchasing an additional 4,211,939 shares during the period. Invesco Ltd. owned approximately 1.35% of ConocoPhillips worth $1,544,101,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC grew its position in ConocoPhillips by 164.8% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 59,776 shares of the energy producer's stock worth $6,293,000 after purchasing an additional 37,201 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in shares of ConocoPhillips by 22.6% in the 3rd quarter. EP Wealth Advisors LLC now owns 38,690 shares of the energy producer's stock worth $4,073,000 after buying an additional 7,131 shares during the last quarter. iA Global Asset Management Inc. grew its holdings in shares of ConocoPhillips by 9.1% in the third quarter. iA Global Asset Management Inc. now owns 24,335 shares of the energy producer's stock valued at $2,562,000 after acquiring an additional 2,033 shares in the last quarter. National Bank of Canada FI lifted its holdings in ConocoPhillips by 15.7% during the third quarter. National Bank of Canada FI now owns 735,557 shares of the energy producer's stock worth $77,439,000 after acquiring an additional 99,972 shares during the period. Finally, DF Dent & Co. Inc. boosted its position in ConocoPhillips by 88.4% in the third quarter. DF Dent & Co. Inc. now owns 6,223 shares of the energy producer's stock worth $655,000 after purchasing an additional 2,920 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. Morgan Stanley lowered their price objective on shares of ConocoPhillips from $131.00 to $126.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. TD Cowen began coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a "buy" rating and a $125.00 target price on the stock. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a report on Thursday, January 30th. Finally, Raymond James lowered ConocoPhillips from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the company from $157.00 to $124.00 in a report on Monday, February 10th. Two research 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $131.84.

ConocoPhillips Price Performance

ConocoPhillips stock traded down $0.56 during mid-day trading on Monday, hitting $85.74. 12,868,881 shares of the company traded hands, compared to its average volume of 6,909,675. 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 has a one year low of $81.34 and a one year high of $135.18. The stock has a market cap of $108.38 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. The stock has a fifty day moving average price of $98.19 and a 200-day moving average price of $102.89.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data 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%. On average, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company 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. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.64%. ConocoPhillips's dividend payout ratio (DPR) is presently 40.05%.

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.