ConocoPhillips (NYSE:COP) Shares Bought by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD raised its holdings in ConocoPhillips (NYSE:COP) by 13.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,847,572 shares of the energy producer’s stock after purchasing an additional 5,549,078 shares during the period. ConocoPhillips accounts for approximately 0.5% of Price T Rowe Associates Inc. MD’s portfolio, making the stock its 27th largest holding. Price T Rowe Associates Inc. MD owned approximately 3.98% of ConocoPhillips worth $4,546,706,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in ConocoPhillips by 11.7% during 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 last quarter. Invesco Ltd. boosted its stake in shares of ConocoPhillips by 37.1% during the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock valued at $1,544,101,000 after acquiring an additional 4,211,939 shares during the last quarter. Assenagon Asset Management S.A. increased its position in ConocoPhillips by 401.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock worth $438,690,000 after purchasing an additional 3,541,504 shares in the last quarter. Geode Capital Management LLC raised its stake in ConocoPhillips by 13.7% in the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock valued at $2,792,521,000 after purchasing an additional 3,397,360 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in ConocoPhillips in the 4th quarter valued at about $232,859,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on COP shares. TD Cowen started coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective for the company. Truist Financial boosted 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. UBS Group reduced their price target on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Royal Bank of Canada dropped their target price on ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Finally, Scotiabank decreased their price target on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a research note on Friday, April 11th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $127.68.

ConocoPhillips Trading Up 2.6 %

NYSE:COP opened at $89.81 on Wednesday. The business’s 50-day moving average is $94.89 and its two-hundred day moving average is $101.03. The firm has a market capitalization of $113.53 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $130.77. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating 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%. Research analysts predict 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 given 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 dividend yield of 3.47%. ConocoPhillips’s payout ratio is currently 40.05%.

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.