ConocoPhillips (NYSE:COP) Stake Lessened by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. reduced its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 53.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,520 shares of the energy producer's stock after selling 44,913 shares during the period. Tocqueville Asset Management L.P.'s holdings in ConocoPhillips were worth $3,919,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Albion Financial Group UT lifted its holdings in ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock valued at $25,000 after acquiring an additional 228 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in ConocoPhillips in the fourth quarter valued at approximately $27,000. Truvestments Capital LLC acquired a new position in ConocoPhillips in the third quarter valued at approximately $31,000. RPg Family Wealth Advisory LLC acquired a new position in ConocoPhillips in the third quarter valued at approximately $35,000. Finally, Marshall Investment Management LLC acquired a new position in ConocoPhillips in the fourth quarter valued at approximately $36,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

COP traded down $0.26 on Friday, hitting $102.05. 55,090,100 shares of the company's stock were exchanged, compared to its average volume of 6,427,545. ConocoPhillips has a twelve month low of $86.81 and a twelve month high of $135.18. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The firm has a market cap of $129.84 billion, a PE ratio of 13.10, a P/E/G ratio of 0.79 and a beta of 1.12. The stock has a fifty day moving average of $99.21 and a two-hundred day moving average of $103.45.

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ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS 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%. On average, research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips's dividend payout ratio (DPR) is 40.05%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on COP. The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a report on Thursday, January 30th. Mizuho upgraded ConocoPhillips from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Morgan Stanley began coverage on ConocoPhillips in a research report on Monday, December 16th. They set an "overweight" rating and a $128.00 price target for the company. 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, Truist Financial raised their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Two investment 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.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $133.05.

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.