ConocoPhillips (NYSE:COP) Shares Acquired by RiverFront Investment Group LLC

RiverFront Investment Group LLC boosted its holdings in ConocoPhillips (NYSE:COP) by 15.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,939 shares of the energy producer’s stock after acquiring an additional 539 shares during the quarter. RiverFront Investment Group LLC’s holdings in ConocoPhillips were worth $391,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Tidal Investments LLC increased its stake in ConocoPhillips by 42.7% during the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock valued at $10,902,000 after buying an additional 31,011 shares during the period. Leavell Investment Management Inc. increased its stake in shares of ConocoPhillips by 59.8% during the fourth quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock valued at $1,901,000 after acquiring an additional 7,174 shares during the period. Brookstone Capital Management raised its holdings in ConocoPhillips by 4.5% during 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 in the last quarter. Principal Financial Group Inc. lifted its position in ConocoPhillips by 2.3% in the third quarter. Principal Financial Group Inc. now owns 1,474,270 shares of the energy producer’s stock worth $155,211,000 after purchasing an additional 32,948 shares during the period. Finally, Fiduciary Alliance LLC boosted its stake in ConocoPhillips by 13.6% during the 4th quarter. Fiduciary Alliance LLC now owns 186,535 shares of the energy producer’s stock valued at $18,499,000 after purchasing an additional 22,378 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the topic of a number of research reports. Wells Fargo & Company dropped their price objective on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research note 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 for the company in a report on Thursday, December 19th. Evercore ISI restated an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a report on Thursday, January 30th. Finally, UBS Group reduced their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.95.

ConocoPhillips Price Performance

Shares of COP opened at $102.37 on Friday. 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 company has a market capitalization of $130.26 billion, a price-to-earnings ratio of 13.14, a P/E/G ratio of 0.79 and a beta of 1.12. The business’s 50-day moving average is $98.95 and its 200-day moving average is $103.27. ConocoPhillips has a fifty-two week low of $86.81 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data 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 net margin of 16.23% and a return on equity of 17.26%. Equities research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid 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 3.05%. ConocoPhillips’s dividend payout ratio (DPR) is currently 40.05%.

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.