FCG Investment Co Reduces Holdings in ConocoPhillips (NYSE:COP)

FCG Investment Co lessened its position in shares of ConocoPhillips (NYSE:COP) by 13.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,173 shares of the energy producer’s stock after selling 327 shares during the period. FCG Investment Co’s holdings in ConocoPhillips were worth $277,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in ConocoPhillips by 24.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer’s stock worth $2,752,325,000 after purchasing an additional 4,726,952 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in ConocoPhillips by 512.8% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock worth $433,757,000 after purchasing an additional 3,127,165 shares in the last quarter. Alphinity Investment Management Pty Ltd lifted its holdings in ConocoPhillips by 78.2% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 4,611,763 shares of the energy producer’s stock worth $535,287,000 after purchasing an additional 2,023,263 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in ConocoPhillips by 13,905.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,114,261 shares of the energy producer’s stock worth $129,332,000 after purchasing an additional 1,106,305 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in ConocoPhillips by 29.3% during the 4th quarter. Pacer Advisors Inc. now owns 3,422,834 shares of the energy producer’s stock worth $397,288,000 after purchasing an additional 776,107 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Truist Financial raised their price target on ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Royal Bank of Canada raised their price target on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Morgan Stanley raised their price target on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Scotiabank increased their price objective on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Finally, StockNews.com upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $144.18.

ConocoPhillips Trading Up 0.6 %

Shares of COP stock traded up $0.65 during trading hours on Thursday, reaching $114.77. The company’s stock had a trading volume of 2,326,248 shares, compared to its average volume of 6,326,732. The stock has a market capitalization of $134.23 billion, a P/E ratio of 13.00, a P/E/G ratio of 2.03 and a beta of 1.23. ConocoPhillips has a one year low of $99.35 and a one year high of $135.18. The firm’s fifty day simple moving average is $117.39 and its 200 day simple moving average is $117.59. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. The firm had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. Equities research analysts expect that ConocoPhillips will post 8.89 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given a $0.78 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.72%. ConocoPhillips’s dividend payout ratio is currently 26.27%.

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.