ConocoPhillips (NYSE:COP) Shares Bought by NewEdge Advisors LLC

NewEdge Advisors LLC grew its position in ConocoPhillips (NYSE:COP) by 33.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 139,918 shares of the energy producer’s stock after acquiring an additional 34,931 shares during the period. NewEdge Advisors LLC’s holdings in ConocoPhillips were worth $13,876,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in ConocoPhillips by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after buying an additional 12,751,120 shares during the period. Geode Capital Management LLC raised its stake in shares of ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock valued at $2,792,521,000 after acquiring an additional 3,397,360 shares in the last quarter. Invesco Ltd. boosted its holdings in ConocoPhillips by 37.1% in the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock valued at $1,544,101,000 after purchasing an additional 4,211,939 shares during the period. Franklin Resources Inc. grew its stake in ConocoPhillips by 6.4% during the 4th quarter. Franklin Resources Inc. now owns 14,420,058 shares of the energy producer’s stock worth $1,430,034,000 after purchasing an additional 862,707 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings 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 purchasing an additional 1,324,771 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $88.96 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock has a market cap of $112.46 billion, a P/E ratio of 11.42, a P/E/G ratio of 0.79 and a beta of 0.83. The stock has a 50 day moving average of $95.50 and a two-hundred day moving average of $101.58. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $130.77.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results 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 net margin of 16.23% and a return on equity of 17.26%. On average, research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.51%. ConocoPhillips’s dividend payout ratio (DPR) is 40.05%.

Analysts Set New Price Targets

A number of brokerages have recently commented on COP. Barclays lowered their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a report on Thursday, January 30th. TD Cowen initiated coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective on the stock. Piper Sandler lowered their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, UBS Group dropped their target price on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.32.

About ConocoPhillips

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.