Martingale Asset Management L P Purchases 20,216 Shares of ConocoPhillips (NYSE:COP)

Martingale Asset Management L P lifted its holdings in ConocoPhillips (NYSE:COP - Free Report) by 258.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,052 shares of the energy producer's stock after purchasing an additional 20,216 shares during the quarter. Martingale Asset Management L P's holdings in ConocoPhillips were worth $2,782,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in ConocoPhillips by 11.7% during 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 buying an additional 12,751,120 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of ConocoPhillips by 13.7% in the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock valued at $2,792,521,000 after acquiring an additional 3,397,360 shares in the last quarter. Invesco Ltd. boosted its stake in ConocoPhillips by 37.1% in the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock worth $1,544,101,000 after purchasing an additional 4,211,939 shares during the period. Franklin Resources Inc. grew its position in ConocoPhillips by 6.4% during the 4th quarter. Franklin Resources Inc. now owns 14,420,058 shares of the energy producer's stock worth $1,430,034,000 after purchasing an additional 862,707 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position 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 purchasing an additional 1,324,771 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

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ConocoPhillips Price Performance

Shares of ConocoPhillips stock traded down $0.11 during trading on Tuesday, hitting $86.34. 1,548,963 shares of the company's stock traded hands, compared to its average volume of 8,754,917. The company has a market cap of $109.15 billion, a PE ratio of 11.08, a PEG ratio of 0.79 and a beta of 0.83. The firm's fifty day moving average price is $96.24 and its 200 day moving average price is $101.91. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $130.80. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders 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 annualized dividend and a yield of 3.61%. ConocoPhillips's dividend payout ratio is currently 40.05%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on COP. Piper Sandler decreased their target price on ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. TD Cowen started coverage on ConocoPhillips in a research report on Friday, January 17th. They set a "buy" rating and a $125.00 price objective for the company. Barclays dropped their target price 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 target on shares of ConocoPhillips from $131.00 to $116.00 and set an "overweight" rating for the company in a report on Tuesday. Finally, The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $128.84.

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.