Treasurer of the State of North Carolina Buys 99,714 Shares of ConocoPhillips (NYSE:COP)

Treasurer of the State of North Carolina increased its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 19.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 612,020 shares of the energy producer's stock after acquiring an additional 99,714 shares during the quarter. Treasurer of the State of North Carolina owned about 0.05% of ConocoPhillips worth $60,694,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of ConocoPhillips by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock worth $12,081,491,000 after buying an additional 12,751,120 shares during the last quarter. Invesco Ltd. raised its holdings 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 acquiring an additional 4,211,939 shares during the period. Assenagon Asset Management S.A. lifted its position in ConocoPhillips by 401.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer's stock worth $438,690,000 after acquiring an additional 3,541,504 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of ConocoPhillips by 13.7% during the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock worth $2,792,521,000 after acquiring an additional 3,397,360 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $232,859,000. Institutional investors own 82.36% of the company's stock.

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ConocoPhillips Price Performance

Shares of NYSE COP traded up $0.22 during midday trading on Monday, reaching $86.61. 2,520,918 shares of the company were exchanged, compared to its average volume of 7,048,711. The stock's 50-day moving average price is $96.51 and its 200-day moving average price is $102.04. The stock has a market cap of $109.49 billion, a P/E ratio of 11.12, a PEG 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 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 data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping 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%. On average, sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.60%. ConocoPhillips's dividend payout ratio (DPR) is presently 40.05%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on COP. Piper Sandler decreased their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. TD Cowen began coverage on shares of ConocoPhillips in a report on Friday, January 17th. They set a "buy" rating and a $125.00 target price on the stock. Mizuho upgraded ConocoPhillips from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $132.00 to $134.00 in a research note on Monday, December 16th. UBS Group lowered their price objective on ConocoPhillips from $130.00 to $116.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Finally, Barclays dropped their price objective on ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $129.74.

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.