Rhumbline Advisers Raises Holdings in ConocoPhillips (NYSE:COP)

Rhumbline Advisers lifted its position in ConocoPhillips (NYSE:COP - Free Report) by 9.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,419,638 shares of the energy producer's stock after purchasing an additional 209,694 shares during the quarter. Rhumbline Advisers owned approximately 0.21% of ConocoPhillips worth $239,955,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. State Street Corp boosted its position in shares of ConocoPhillips by 19.0% in the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer's stock valued at $7,046,263,000 after purchasing an additional 10,663,093 shares during the period. Wellington Management Group LLP boosted its position in shares of ConocoPhillips by 20.2% in 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 purchasing an additional 5,240,016 shares during the period. Geode Capital Management LLC raised its stake in ConocoPhillips by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer's stock valued at $2,601,639,000 after acquiring an additional 924,289 shares during the last quarter. Franklin Resources Inc. raised its stake in ConocoPhillips by 12.5% during the 3rd 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 during the last quarter. Finally, Fisher Asset Management LLC raised its stake in ConocoPhillips by 59.7% during the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer's stock valued at $1,311,369,000 after acquiring an additional 4,656,040 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti acquired 2,500 shares of the firm's stock in a transaction dated Friday, December 20th. The shares were acquired at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares of the company's stock, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director R A. Walker acquired 10,400 shares of the firm's stock in a transaction dated Tuesday, December 17th. The shares were acquired at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now directly owns 38,000 shares of the company's stock, valued at approximately $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is owned by insiders.

ConocoPhillips Price Performance

Shares of COP traded up $1.09 on Tuesday, reaching $97.35. The stock had a trading volume of 11,773,544 shares, compared to its average volume of 6,715,071. The firm has a market capitalization of $112.04 billion, a PE ratio of 12.50, a PEG ratio of 0.77 and a beta of 1.18. The company has a quick ratio of 1.16, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average of $100.30 and a 200 day moving average of $105.61. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its 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 expect that ConocoPhillips will post 8.3 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Friday, February 14th. ConocoPhillips's dividend payout ratio (DPR) is presently 40.05%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Barclays reduced their price objective on ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. UBS Group reduced their price objective on ConocoPhillips from $140.00 to $137.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. Raymond James downgraded ConocoPhillips from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the company from $157.00 to $124.00 in a research note on Monday, February 10th. JPMorgan Chase & Co. raised ConocoPhillips from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Finally, Piper Sandler cut their target price on ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips has an average rating of "Moderate Buy" and an average target price of $133.56.

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.