Renaissance Technologies LLC Sells 11,347 Shares of ConocoPhillips (NYSE:COP)

Renaissance Technologies LLC cut its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 810,461 shares of the energy producer's stock after selling 11,347 shares during the quarter. Renaissance Technologies LLC owned 0.07% of ConocoPhillips worth $80,373,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Orrstown Financial Services Inc. increased its holdings in shares of ConocoPhillips by 3.0% in the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer's stock valued at $331,000 after purchasing an additional 96 shares during the period. Principle Wealth Partners LLC increased its stake in ConocoPhillips by 0.3% in the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer's stock valued at $3,695,000 after buying an additional 100 shares during the period. Arlington Trust Co LLC lifted its position in ConocoPhillips by 1.2% in the 4th quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer's stock worth $857,000 after buying an additional 102 shares in the last quarter. Courier Capital LLC boosted its stake in shares of ConocoPhillips by 0.5% during the 4th quarter. Courier Capital LLC now owns 20,481 shares of the energy producer's stock valued at $2,031,000 after buying an additional 103 shares during the period. Finally, Gray Wealth Management Inc. grew its holdings in shares of ConocoPhillips by 5.0% during the 4th quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer's stock valued at $215,000 after acquiring an additional 104 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

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ConocoPhillips Stock Performance

Shares of COP traded up $3.07 during mid-day trading on Friday, hitting $86.36. The company's stock had a trading volume of 9,231,132 shares, compared to its average volume of 7,066,449. The stock's 50-day moving average is $96.51 and its two-hundred day moving average is $102.04. The firm has a market capitalization of $109.17 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. 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 $79.88 and a one year high of $132.61.

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, beating analysts' consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips's dividend payout ratio (DPR) is presently 40.05%.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of research reports. Morgan Stanley reduced their price objective on ConocoPhillips from $131.00 to $126.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. JPMorgan Chase & Co. lowered their price target on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a research report on Thursday, January 30th. Piper Sandler decreased their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Finally, Wells Fargo & Company cut their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $130.79.

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.