OVERSEA CHINESE BANKING Corp Ltd Acquires 7,865 Shares of ConocoPhillips (NYSE:COP)

OVERSEA CHINESE BANKING Corp Ltd boosted its stake in ConocoPhillips (NYSE:COP - Free Report) by 10.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,462 shares of the energy producer's stock after acquiring an additional 7,865 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in ConocoPhillips were worth $8,466,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in COP. State Street Corp boosted its holdings in ConocoPhillips by 19.0% in the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer's stock valued at $7,046,263,000 after acquiring an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP lifted its stake in 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 period. Fisher Asset Management LLC lifted its stake in ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer's stock valued at $1,311,369,000 after buying an additional 4,656,040 shares during the period. Pacer Advisors Inc. lifted its stake in ConocoPhillips by 5,422.3% in the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer's stock valued at $482,996,000 after buying an additional 4,504,653 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in ConocoPhillips by 401.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer's stock valued at $438,690,000 after buying an additional 3,541,504 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

COP has been the topic of several recent analyst reports. TD Cowen initiated coverage on ConocoPhillips in a research note on Friday, January 17th. They issued a "buy" rating and a $125.00 price target on the stock. The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a research note on Thursday, January 30th. Piper Sandler dropped their price target on ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Barclays dropped their price target on ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. dropped their price target on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, March 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. According to MarketBeat, ConocoPhillips has a consensus rating of "Moderate Buy" and a consensus target price of $133.05.

ConocoPhillips Stock Down 0.3 %

NYSE COP traded down $0.26 on Friday, reaching $102.05. The company had a trading volume of 55,090,100 shares, compared to its average volume of 6,433,374. The stock has a market capitalization of $129.84 billion, a P/E ratio of 13.10, a P/E/G ratio of 0.79 and a beta of 1.12. The company's fifty day moving average is $99.21 and its 200 day moving average is $103.40. ConocoPhillips has a 52-week low of $86.81 and a 52-week high of $135.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last released 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%. Sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

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