CWA Asset Management Group LLC raised its position in ConocoPhillips (NYSE:COP – Get Rating) by 10.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,835 shares of the energy producer’s stock after purchasing an additional 275 shares during the period. CWA Asset Management Group LLC’s holdings in ConocoPhillips were worth $335,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prelude Capital Management LLC lifted its holdings in ConocoPhillips by 123.0% in the 2nd quarter. Prelude Capital Management LLC now owns 37,354 shares of the energy producer’s stock valued at $3,355,000 after purchasing an additional 20,605 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of ConocoPhillips by 67.7% during the 2nd quarter. Renaissance Technologies LLC now owns 931,308 shares of the energy producer’s stock worth $83,641,000 after acquiring an additional 375,900 shares during the period. PFS Investments Inc. raised its holdings in shares of ConocoPhillips by 12.9% during the 3rd quarter. PFS Investments Inc. now owns 6,431 shares of the energy producer’s stock worth $658,000 after acquiring an additional 733 shares during the period. CAPROCK Group Inc. raised its holdings in shares of ConocoPhillips by 60.5% during the 3rd quarter. CAPROCK Group Inc. now owns 7,683 shares of the energy producer’s stock worth $797,000 after acquiring an additional 2,895 shares during the period. Finally, United Services Automobile Association raised its holdings in shares of ConocoPhillips by 2.7% during the 3rd quarter. United Services Automobile Association now owns 48,959 shares of the energy producer’s stock worth $5,011,000 after acquiring an additional 1,281 shares during the period. Hedge funds and other institutional investors own 81.76% of the company’s stock.
ConocoPhillips Price Performance
COP stock opened at $94.39 on Friday. The business has a 50 day moving average price of $111.37 and a 200 day moving average price of $115.73. The stock has a market cap of $115.04 billion, a price-to-earnings ratio of 6.51, a PEG ratio of 0.45 and a beta of 1.29. ConocoPhillips has a fifty-two week low of $78.30 and a fifty-two week high of $138.49. The company has a quick ratio of 1.36, a current ratio of 1.46 and a debt-to-equity ratio of 0.34.
ConocoPhillips Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Wednesday, March 29th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Tuesday, March 28th. ConocoPhillips’s dividend payout ratio is currently 14.06%.
Insider Buying and Selling at ConocoPhillips
In other news, Director R A. Walker acquired 4,800 shares of ConocoPhillips stock in a transaction on Wednesday, February 22nd. The stock was bought at an average price of $103.00 per share, for a total transaction of $494,400.00. Following the completion of the purchase, the director now owns 27,600 shares in the company, valued at $2,842,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.08% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
COP has been the topic of several analyst reports. Truist Financial lifted their price target on ConocoPhillips from $148.00 to $151.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. Citigroup reduced their price target on ConocoPhillips from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Monday, February 27th. Mizuho cut their price objective on ConocoPhillips from $150.00 to $143.00 in a research report on Friday, March 10th. StockNews.com started coverage on ConocoPhillips in a research report on Thursday. They set a “hold” rating for the company. Finally, Scotiabank downgraded ConocoPhillips from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $145.00 to $140.00 in a research report on Tuesday, January 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $136.86.
ConocoPhillips Profile
ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska, Lower 48, Canada, Europe, Middle East and North Africa, Asia Pacific, and Other International.
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