AQR Capital Management LLC Boosts Stock Holdings in ConocoPhillips (NYSE:COP)

AQR Capital Management LLC raised its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 83.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,605,903 shares of the energy producer's stock after purchasing an additional 728,872 shares during the quarter. AQR Capital Management LLC owned 0.14% of ConocoPhillips worth $158,005,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in COP. Price T Rowe Associates Inc. MD grew its stake in ConocoPhillips by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock worth $4,546,706,000 after acquiring an additional 5,549,078 shares in the last quarter. Tidal Investments LLC boosted 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 valued at $10,902,000 after purchasing an additional 31,011 shares during the period. Leavell Investment Management Inc. grew its stake in 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 in the last quarter. Brookstone Capital Management increased its holdings in ConocoPhillips by 4.5% during the 4th 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 period. Finally, Principal Financial Group Inc. raised its position in ConocoPhillips by 2.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,474,270 shares of the energy producer's stock valued at $155,211,000 after purchasing an additional 32,948 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

COP has been the topic of several research reports. Susquehanna set a $136.00 price target on ConocoPhillips in a research note on Tuesday, April 22nd. Royal Bank of Canada dropped their target price on shares of ConocoPhillips from $133.00 to $120.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company lowered their price target on shares of ConocoPhillips from $131.00 to $116.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Raymond James downgraded shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the company from $157.00 to $124.00 in a research note on Monday, February 10th. Finally, Truist Financial boosted their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $124.79.

ConocoPhillips Stock Performance

COP stock traded up $0.81 during midday trading on Friday, reaching $91.46. The stock had a trading volume of 6,895,414 shares, compared to its average volume of 7,172,775. The firm has a fifty day simple moving average of $93.78 and a two-hundred day simple moving average of $100.03. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $125.22. 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 stock has a market cap of $115.62 billion, a PE ratio of 11.74, a P/E/G ratio of 0.79 and a beta of 0.83.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. As a group, equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips's dividend payout ratio is currently 40.05%.

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.