North Forty Two & Co. Invests $401,000 in ConocoPhillips (NYSE:COP)

North Forty Two & Co. purchased a new stake in ConocoPhillips (NYSE:COP - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,046 shares of the energy producer's stock, valued at approximately $401,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its stake in shares of ConocoPhillips by 19.0% during the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer's stock worth $7,046,263,000 after purchasing an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP grew its holdings in ConocoPhillips by 20.2% during the 3rd 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. Geode Capital Management LLC increased its position in 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 buying an additional 924,289 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of ConocoPhillips by 10.6% in the fourth 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 last quarter. Finally, Franklin Resources Inc. lifted 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 valued at $1,469,163,000 after acquiring an additional 1,506,599 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts have recently weighed in on COP shares. Morgan Stanley initiated coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They issued an "overweight" rating and a $128.00 price objective for the company. Raymond James cut shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and lowered their target price for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Truist Financial increased their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Barclays lowered their price objective on ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. Finally, Mizuho upgraded ConocoPhillips from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Two equities research 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 company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $133.05.

ConocoPhillips Stock Down 0.3 %

COP stock traded down $0.26 during trading 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 firm has a fifty day moving average price of $99.21 and a 200 day moving average price of $103.40. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $129.84 billion, a P/E ratio of 13.10, a PEG ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 1-year low of $86.81 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

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