Russell Investments Group Ltd. Grows Position in ConocoPhillips (NYSE:COP)

Russell Investments Group Ltd. increased its position in ConocoPhillips (NYSE:COP) by 10.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,429,240 shares of the energy producer’s stock after purchasing an additional 136,753 shares during the period. Russell Investments Group Ltd.’s holdings in ConocoPhillips were worth $141,732,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Albion Financial Group UT boosted its stake in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in ConocoPhillips in the 4th quarter worth about $26,000. Centricity Wealth Management LLC bought a new stake in ConocoPhillips during the 4th quarter valued at about $27,000. Crowley Wealth Management Inc. bought a new position in shares of ConocoPhillips in the fourth quarter worth approximately $32,000. Finally, Marshall Investment Management LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $86.18 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. ConocoPhillips has a 12 month low of $85.55 and a 12 month high of $135.18. The stock has a 50 day moving average of $98.53 and a 200 day moving average of $103.14. The firm has a market cap of $108.95 billion, a PE ratio of 11.06, a PEG ratio of 0.79 and a beta of 0.83.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share 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%. On average, research analysts expect 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. Investors of record on Monday, February 17th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on COP shares. JPMorgan Chase & Co. reduced their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Piper Sandler decreased their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Evercore ISI reiterated an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a report on Thursday, January 30th. Finally, Morgan Stanley lowered their price target on ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.95.

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.