Korea Investment CORP Buys 3,424 Shares of ConocoPhillips (NYSE:COP)

Korea Investment CORP raised its stake in ConocoPhillips (NYSE:COP) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,054,671 shares of the energy producer’s stock after acquiring an additional 3,424 shares during the period. Korea Investment CORP owned about 0.09% of ConocoPhillips worth $104,592,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of COP. Albion Financial Group UT increased its position in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in ConocoPhillips during the fourth quarter worth about $26,000. Centricity Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $27,000. Truvestments Capital LLC bought a new position in shares of ConocoPhillips in the third quarter valued at approximately $31,000. Finally, Crowley Wealth Management Inc. acquired a new position in shares of ConocoPhillips in the 4th quarter worth approximately $32,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Evercore ISI reiterated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. Truist Financial lifted their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a report on Thursday, January 30th. Wells Fargo & Company dropped their target price on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Finally, 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. 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.05.

ConocoPhillips Stock Up 0.6 %

NYSE:COP opened at $103.15 on Thursday. The stock’s fifty day simple moving average is $99.08 and its 200-day simple moving average is $103.31. The firm has a market capitalization of $131.25 billion, a P/E ratio of 13.24, a P/E/G ratio of 0.79 and a beta of 1.12. 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 12-month low of $86.81 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current 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 issued a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.02%. ConocoPhillips’s dividend payout ratio (DPR) is presently 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.