ConocoPhillips (NYSE:COP) Shares Bought by TIAA Trust National Association

TIAA Trust National Association lifted its stake in shares of ConocoPhillips (NYSE:COP) by 38.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 239,498 shares of the energy producer’s stock after buying an additional 67,038 shares during the quarter. TIAA Trust National Association’s holdings in ConocoPhillips were worth $23,749,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Albion Financial Group UT lifted its holdings in ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after buying an additional 228 shares during the last quarter. Centricity Wealth Management LLC bought a new position in ConocoPhillips during the fourth quarter worth $27,000. Truvestments Capital LLC acquired a new position in ConocoPhillips in the third quarter worth $31,000. Crowley Wealth Management Inc. bought a new stake in ConocoPhillips during the fourth quarter valued at $32,000. Finally, Global Wealth Strategies & Associates raised its holdings in shares of ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares during the period. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on COP shares. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Piper Sandler dropped their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. TD Cowen started coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a research report on Thursday, January 30th. Finally, Evercore ISI reissued an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $133.05.

ConocoPhillips Stock Up 0.2 %

COP opened at $102.44 on Wednesday. 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 company has a market capitalization of $130.34 billion, a PE ratio of 13.15, a P/E/G ratio of 0.79 and a beta of 1.12. The stock’s fifty day moving average is $99.12 and its 200-day moving average is $103.31. ConocoPhillips has a one year low of $86.81 and a one year high of $135.18.

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, 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, equities analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s payout ratio is 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.