Royal London Asset Management Ltd. lifted its position in ConocoPhillips (NYSE:COP - Free Report) by 10.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 651,703 shares of the energy producer's stock after purchasing an additional 62,016 shares during the period. Royal London Asset Management Ltd. owned about 0.06% of ConocoPhillips worth $64,629,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Tidal Investments LLC grew its holdings in shares of ConocoPhillips by 42.7% in the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer's stock worth $10,902,000 after purchasing an additional 31,011 shares during the last quarter. Leavell Investment Management Inc. grew its holdings in shares of ConocoPhillips by 59.8% in the fourth quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer's stock worth $1,901,000 after purchasing an additional 7,174 shares during the last quarter. Brookstone Capital Management grew its holdings in shares of ConocoPhillips by 4.5% in the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer's stock worth $878,000 after purchasing an additional 383 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of ConocoPhillips by 1.9% in the third quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer's stock worth $262,094,000 after purchasing an additional 46,621 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of ConocoPhillips by 5,422.3% in the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer's stock worth $482,996,000 after purchasing an additional 4,504,653 shares during the last quarter. Institutional investors own 82.36% of the company's stock.
In related news, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction dated Friday, December 20th. The stock was purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is owned by insiders.
COP opened at $101.33 on Thursday. The stock has a 50-day moving average price of $99.19 and a 200-day moving average price of $103.54. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The firm has a market cap of $128.93 billion, a PE ratio of 13.01, a P/E/G ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18.
ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips's dividend payout ratio is presently 40.05%.
Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Raymond James cut shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and cut their price target for the company from $157.00 to $124.00 in a report on Monday, February 10th. Piper Sandler cut their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. TD Cowen began coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a "buy" rating and a $125.00 price target on the stock. Finally, Evercore ISI reiterated an "outperform" rating and issued a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ConocoPhillips currently has an average rating of "Moderate Buy" and a consensus price target of $133.05.
Check Out Our Latest Analysis on COP
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.
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