ConocoPhillips (NYSE:COP) Stake Lifted by Canopy Partners LLC

Canopy Partners LLC raised its stake in ConocoPhillips (NYSE:COP) by 9.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 8,174 shares of the energy producer’s stock after buying an additional 674 shares during the quarter. Canopy Partners LLC’s holdings in ConocoPhillips were worth $811,000 as of its most recent SEC filing.

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

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $86.18 on Monday. ConocoPhillips has a 12 month low of $81.34 and a 12 month high of $135.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The stock has a market cap of $108.95 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. The business has a fifty day simple moving average of $98.53 and a 200-day simple moving average of $103.06.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share 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%. On average, sell-side analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

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

Analyst Upgrades and Downgrades

COP has been the subject of a number of analyst reports. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Barclays reduced their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. UBS Group lowered their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Piper Sandler reduced their price target 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, The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a research note on Thursday, January 30th. 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 company. According to MarketBeat, the stock currently has an average 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.