Alyeska Investment Group L.P. Purchases 1,470,202 Shares of ConocoPhillips (NYSE:COP)

Alyeska Investment Group L.P. boosted its holdings in ConocoPhillips (NYSE:COP - Free Report) by 417.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,822,024 shares of the energy producer's stock after acquiring an additional 1,470,202 shares during the period. ConocoPhillips accounts for 0.7% of Alyeska Investment Group L.P.'s holdings, making the stock its 25th biggest position. Alyeska Investment Group L.P. owned about 0.16% of ConocoPhillips worth $180,690,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Orrstown Financial Services Inc. grew its stake in shares of ConocoPhillips by 3.0% during the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer's stock valued at $331,000 after buying an additional 96 shares during the last quarter. Principle Wealth Partners LLC raised its position in ConocoPhillips by 0.3% during the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer's stock valued at $3,695,000 after purchasing an additional 100 shares during the last quarter. Arlington Trust Co LLC raised its holdings in shares of ConocoPhillips by 1.2% during the fourth quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer's stock valued at $857,000 after acquiring an additional 102 shares in the last quarter. Courier Capital LLC lifted its position in shares of ConocoPhillips by 0.5% in the 4th quarter. Courier Capital LLC now owns 20,481 shares of the energy producer's stock worth $2,031,000 after purchasing an additional 103 shares during the period. Finally, Gray Wealth Management Inc. lifted its holdings in ConocoPhillips by 5.0% in the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer's stock worth $215,000 after buying an additional 104 shares during the period. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Price Performance

Shares of COP traded down $3.80 during trading hours on Monday, reaching $87.61. 9,272,704 shares of the stock traded hands, compared to its average volume of 7,189,835. The company has a market cap of $110.75 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company's 50-day moving average price is $93.61 and its two-hundred day moving average price is $99.83. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $125.22.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating 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%. On average, analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips's dividend payout ratio (DPR) is currently 40.05%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. TD Cowen assumed coverage on ConocoPhillips in a research report on Friday, January 17th. They set a "buy" rating and a $125.00 price objective for the company. Scotiabank lowered their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. reduced their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Truist Financial increased 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. Finally, Raymond James downgraded shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and cut their target price for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $124.79.

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.