Vanguard Group Inc. Boosts Stock Holdings in ConocoPhillips (NYSE:COP)

Vanguard Group Inc. raised its holdings in ConocoPhillips (NYSE:COP) by 11.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,826,062 shares of the energy producer’s stock after purchasing an additional 12,751,120 shares during the period. Vanguard Group Inc. owned 10.59% of ConocoPhillips worth $12,081,491,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Orrstown Financial Services Inc. increased its position in ConocoPhillips by 3.0% during the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock valued at $331,000 after purchasing an additional 96 shares during the period. Principle Wealth Partners LLC increased its position in ConocoPhillips by 0.3% during the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock valued at $3,695,000 after purchasing an additional 100 shares during the period. Arlington Trust Co LLC increased its position in ConocoPhillips by 1.2% during the 4th quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock valued at $857,000 after purchasing an additional 102 shares during the period. Courier Capital LLC increased its position in ConocoPhillips by 0.5% during the 4th quarter. Courier Capital LLC now owns 20,481 shares of the energy producer’s stock valued at $2,031,000 after purchasing an additional 103 shares during the period. Finally, Gray Wealth Management Inc. increased its position in ConocoPhillips by 5.0% during the 4th quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock valued at $215,000 after purchasing an additional 104 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP opened at $102.05 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The stock has a market capitalization of $129.84 billion, a P/E ratio of 13.10, a P/E/G ratio of 0.79 and a beta of 1.12. The company’s 50-day simple moving average is $99.21 and its two-hundred day simple moving average is $103.40. ConocoPhillips has a 52-week low of $86.81 and a 52-week 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, beating 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%. As a group, analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

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

Analyst Upgrades and Downgrades

COP has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Piper Sandler reduced their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. UBS Group reduced their target price 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. Raymond James downgraded shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a research report on Friday, December 6th. Two 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.