ConocoPhillips (NYSE:COP) Shares Purchased by Titleist Asset Management LLC

Titleist Asset Management LLC increased its holdings in ConocoPhillips (NYSE:COP) by 28.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,491 shares of the energy producer’s stock after buying an additional 983 shares during the quarter. Titleist Asset Management LLC’s holdings in ConocoPhillips were worth $445,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Kovitz Investment Group Partners LLC boosted its holdings in ConocoPhillips by 164.8% in the third quarter. Kovitz Investment Group Partners LLC now owns 59,776 shares of the energy producer’s stock valued at $6,293,000 after purchasing an additional 37,201 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of ConocoPhillips by 22.6% in the 3rd quarter. EP Wealth Advisors LLC now owns 38,690 shares of the energy producer’s stock valued at $4,073,000 after buying an additional 7,131 shares during the period. iA Global Asset Management Inc. boosted its stake in shares of ConocoPhillips by 9.1% in the third quarter. iA Global Asset Management Inc. now owns 24,335 shares of the energy producer’s stock worth $2,562,000 after buying an additional 2,033 shares during the last quarter. National Bank of Canada FI grew its holdings in ConocoPhillips by 15.7% during the third quarter. National Bank of Canada FI now owns 735,557 shares of the energy producer’s stock worth $77,439,000 after acquiring an additional 99,972 shares during the period. Finally, DF Dent & Co. Inc. raised its position in ConocoPhillips by 88.4% during the third quarter. DF Dent & Co. Inc. now owns 6,223 shares of the energy producer’s stock valued at $655,000 after acquiring an additional 2,920 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

NYSE:COP opened at $86.18 on Monday. The company has a market cap of $108.95 billion, a P/E ratio of 11.06, a P/E/G ratio of 0.79 and a beta of 0.83. ConocoPhillips has a twelve month low of $81.34 and a twelve month high of $135.18. The company’s 50-day moving average price is $98.53 and its 200-day moving average price is $103.06. 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 (NYSE:COP) last released its 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, sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s payout ratio is currently 40.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on COP. Raymond James cut 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. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price target for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Piper Sandler decreased their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. UBS Group dropped their target price on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. reduced their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Two 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 stock. Based on data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.95.

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.