ConocoPhillips (NYSE:COP) Holdings Boosted by MV Capital Management Inc.

MV Capital Management Inc. grew its holdings in ConocoPhillips (NYSE:COP) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,095 shares of the energy producer’s stock after purchasing an additional 135 shares during the period. MV Capital Management Inc.’s holdings in ConocoPhillips were worth $208,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in ConocoPhillips by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock worth $12,081,491,000 after acquiring an additional 12,751,120 shares in the last quarter. State Street Corp lifted its position in shares of ConocoPhillips by 19.0% in the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after purchasing an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of ConocoPhillips by 20.2% during the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after purchasing an additional 5,240,016 shares during the period. Geode Capital Management LLC grew its position in ConocoPhillips by 3.9% during the third quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock valued at $2,601,639,000 after purchasing an additional 924,289 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in ConocoPhillips by 10.6% in the 4th quarter. Fisher Asset Management LLC now owns 13,780,782 shares of the energy producer’s stock valued at $1,366,640,000 after buying an additional 1,324,771 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP opened at $102.37 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $130.26 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18. The firm has a 50-day moving average price of $98.95 and a 200 day moving average price of $103.28.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS 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%. 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. Stockholders of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.05%. ConocoPhillips’s dividend payout ratio (DPR) is currently 40.05%.

Analyst Ratings Changes

COP has been the subject of a number of research reports. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a research note on Thursday, January 30th. JPMorgan Chase & Co. cut their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Piper Sandler decreased their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Finally, Truist Financial upped their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.95.

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.