Prudential Financial Inc. Purchases 33,503 Shares of ConocoPhillips (NYSE:COP)

Prudential Financial Inc. raised its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,690,466 shares of the energy producer's stock after acquiring an additional 33,503 shares during the period. Prudential Financial Inc. owned about 0.15% of ConocoPhillips worth $167,644,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Corebridge Financial Inc. raised its position in ConocoPhillips by 4.4% in the 4th quarter. Corebridge Financial Inc. now owns 297,300 shares of the energy producer's stock worth $29,483,000 after purchasing an additional 12,420 shares during the period. United Services Automobile Association increased its holdings in shares of ConocoPhillips by 1.6% in the fourth quarter. United Services Automobile Association now owns 162,762 shares of the energy producer's stock worth $16,141,000 after buying an additional 2,528 shares during the period. Twin City Private Wealth LLC lifted its stake in shares of ConocoPhillips by 3.4% in the 4th quarter. Twin City Private Wealth LLC now owns 7,591 shares of the energy producer's stock valued at $753,000 after acquiring an additional 250 shares during the last quarter. Crowley Wealth Management Inc. purchased a new stake in ConocoPhillips during the 4th quarter valued at about $32,000. Finally, Vanguard Group Inc. grew its position in ConocoPhillips by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock worth $12,081,491,000 after acquiring an additional 12,751,120 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

COP has been the subject of a number of analyst reports. Truist Financial increased their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a "buy" rating in a research note on Monday, January 13th. UBS Group cut their price objective on ConocoPhillips from $140.00 to $137.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. JPMorgan Chase & Co. reduced their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Morgan Stanley cut their price target on ConocoPhillips from $131.00 to $126.00 and set an "overweight" rating on the stock in a research note on Thursday. Finally, TD Cowen assumed coverage on ConocoPhillips in a research note on Friday, January 17th. They set a "buy" rating and a $125.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $132.95.

ConocoPhillips Stock Performance

Shares of COP traded down $0.45 during trading hours on Thursday, hitting $102.75. The stock had a trading volume of 1,917,055 shares, compared to its average volume of 8,442,984. The firm has a market capitalization of $130.74 billion, a PE ratio of 13.19, a PEG ratio of 0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a fifty day moving average price of $99.08 and a 200 day moving average price of $103.31. ConocoPhillips has a 12 month low of $86.81 and a 12 month 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 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.04%. ConocoPhillips's payout ratio is currently 40.05%.

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.