Sei Investments Co. Buys 140,026 Shares of ConocoPhillips (NYSE:COP)

Sei Investments Co. lifted its stake in shares of ConocoPhillips (NYSE:COP) by 22.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 750,440 shares of the energy producer’s stock after purchasing an additional 140,026 shares during the quarter. Sei Investments Co. owned 0.07% of ConocoPhillips worth $74,424,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp grew its holdings in shares of ConocoPhillips by 19.0% during the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after purchasing an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP boosted its position in ConocoPhillips by 20.2% during the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after buying an additional 5,240,016 shares during the period. Geode Capital Management LLC boosted its position in ConocoPhillips by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock worth $2,601,639,000 after buying an additional 924,289 shares during the period. Fisher Asset Management LLC boosted its position in ConocoPhillips by 10.6% during 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 buying an additional 1,324,771 shares during the period. Finally, Franklin Resources Inc. boosted its position in ConocoPhillips by 12.5% during the 3rd quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock worth $1,469,163,000 after buying an additional 1,506,599 shares during the period. 82.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. cut their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Morgan Stanley assumed coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. TD Cowen initiated coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target on the stock. Finally, UBS Group dropped their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.05.

ConocoPhillips Stock Performance

Shares of COP stock opened at $102.05 on Friday. The firm has a market capitalization of $129.84 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The firm has a fifty day simple moving average of $99.21 and a two-hundred day simple moving average of $103.40. The company has a current ratio of 1.29, a quick ratio of 1.14 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 announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.06%. 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.