Russell Investments Group Ltd. Boosts Stake in ConocoPhillips (NYSE:COP)

Russell Investments Group Ltd. grew its holdings in ConocoPhillips (NYSE:COP - Free Report) by 10.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,429,240 shares of the energy producer's stock after acquiring an additional 136,753 shares during the period. Russell Investments Group Ltd. owned about 0.12% of ConocoPhillips worth $141,732,000 as of its most recent filing with the Securities & Exchange Commission.

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

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Wall Street Analysts Forecast Growth

Several brokerages have commented on COP. Raymond James cut shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and decreased their price target for the company from $157.00 to $124.00 in a research report on Monday, February 10th. The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a report on Thursday, January 30th. TD Cowen assumed coverage on ConocoPhillips in a research note on Friday, January 17th. They issued a "buy" rating and a $125.00 price objective for the company. Barclays cut their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Finally, Truist Financial lifted their price target on shares of 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 assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ConocoPhillips presently has a consensus rating of "Moderate Buy" and a consensus target price of $131.84.

ConocoPhillips Stock Performance

NYSE:COP traded down $0.56 during trading hours on Monday, reaching $85.74. 12,868,881 shares of the company's stock were exchanged, compared to its average volume of 6,909,673. ConocoPhillips has a 1-year low of $81.34 and a 1-year high of $135.18. The firm has a market capitalization of $108.38 billion, a price-to-earnings ratio of 11.01, a P/E/G ratio of 0.79 and a beta of 0.83. The company has a 50-day moving average of $98.53 and a 200 day moving average of $103.06. 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 posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating 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%. Research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.64%. ConocoPhillips's dividend 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.