Primecap Management Co. CA Buys 282,990 Shares of ConocoPhillips (NYSE:COP)

Primecap Management Co. CA boosted its stake in ConocoPhillips (NYSE:COP - Free Report) by 6.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,603,895 shares of the energy producer's stock after buying an additional 282,990 shares during the period. Primecap Management Co. CA owned 0.40% of ConocoPhillips worth $456,568,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of COP. Albion Financial Group UT lifted its stake in shares of ConocoPhillips by 876.9% in the 4th 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 bought a new position in ConocoPhillips in the fourth quarter worth $27,000. Truvestments Capital LLC purchased a new position in ConocoPhillips during the third quarter valued at $31,000. Global Wealth Strategies & Associates boosted its holdings in shares of ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer's stock valued at $34,000 after buying an additional 153 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter valued at $35,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of NYSE COP traded down $0.26 during midday trading on Friday, hitting $102.05. 55,090,100 shares of the stock traded hands, compared to its average volume of 6,439,610. 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 $86.81 and a one year high of $135.18. The firm 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. The firm has a 50-day moving average of $99.21 and a two-hundred day moving average of $103.53.

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ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on COP shares. Mizuho raised shares of ConocoPhillips from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Barclays lowered their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating for the company in a report on Monday, February 10th. The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a research note on Thursday, January 30th. Raymond James cut ConocoPhillips from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the company from $157.00 to $124.00 in a research note on Monday, February 10th. Finally, Truist Financial increased their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.