10,253 Shares in ConocoPhillips (NYSE:COP) Bought by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC bought a new stake in shares of ConocoPhillips (NYSE:COP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,253 shares of the energy producer's stock, valued at approximately $1,017,000.

Several other hedge funds have also recently added to or reduced their stakes in COP. Vanguard Group Inc. lifted its holdings in ConocoPhillips by 11.7% in the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock valued at $12,081,491,000 after buying an additional 12,751,120 shares during the period. Geode Capital Management LLC increased its stake in ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock valued at $2,792,521,000 after purchasing an additional 3,397,360 shares in the last quarter. Invesco Ltd. increased its position in ConocoPhillips by 37.1% in the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock valued at $1,544,101,000 after buying an additional 4,211,939 shares in the last quarter. Franklin Resources Inc. raised its position in shares of ConocoPhillips by 6.4% during the fourth quarter. Franklin Resources Inc. now owns 14,420,058 shares of the energy producer's stock worth $1,430,034,000 after purchasing an additional 862,707 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in shares of ConocoPhillips by 10.6% in the 4th quarter. Fisher Asset Management LLC now owns 13,780,782 shares of the energy producer's stock worth $1,366,640,000 after purchasing an additional 1,324,771 shares in the last quarter. Institutional investors own 82.36% of the company's stock.

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Wall Street Analyst Weigh In

COP has been the topic of several research reports. Scotiabank lowered their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a report on Friday. Raymond James lowered ConocoPhillips from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Mizuho raised ConocoPhillips from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Barclays lowered their price target on ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. Finally, UBS Group dropped their price objective on ConocoPhillips from $116.00 to $111.00 and set a "buy" rating on the stock in a research note on Tuesday. 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $128.32.

ConocoPhillips Stock Performance

COP traded down $0.76 during trading hours on Tuesday, hitting $85.69. The stock had a trading volume of 5,739,237 shares, compared to its average volume of 7,059,078. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $132.61. The company's fifty day simple moving average is $96.24 and its 200 day simple moving average is $101.91. The stock has a market cap of $108.33 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. 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 results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating 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%. Equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date was Friday, February 14th. ConocoPhillips's payout ratio is 40.05%.

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.