ExodusPoint Capital Management LP Grows Position in ConocoPhillips (NYSE:COP)

ExodusPoint Capital Management LP raised its position in ConocoPhillips (NYSE:COP) by 79.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 748,450 shares of the energy producer’s stock after buying an additional 331,558 shares during the quarter. ConocoPhillips makes up approximately 0.5% of ExodusPoint Capital Management LP’s portfolio, making the stock its 20th biggest position. ExodusPoint Capital Management LP owned approximately 0.07% of ConocoPhillips worth $74,224,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of COP. Albion Financial Group UT raised 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 purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at about $26,000. Centricity Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter worth about $27,000. Crowley Wealth Management Inc. purchased a new position in shares of ConocoPhillips during the fourth quarter worth about $32,000. Finally, Marshall Investment Management LLC acquired a new position in ConocoPhillips in the 4th quarter valued at about $36,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 0.7 %

COP opened at $106.12 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The company has a market cap of $135.02 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 0.79 and a beta of 1.12. ConocoPhillips has a one year low of $86.81 and a one year high of $135.18. The business’s fifty day moving average is $99.02 and its two-hundred day moving average is $103.33.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping 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%. Analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.94%. ConocoPhillips’s dividend payout ratio (DPR) is 40.05%.

Analyst Upgrades and Downgrades

COP has been the topic of several analyst reports. TD Cowen assumed coverage on ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 target price on the stock. Truist Financial lifted their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Piper Sandler dropped their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Two equities research 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’s stock. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $132.95.

ConocoPhillips Company Profile

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.