Blackstone Inc. Purchases 18,069 Shares of ConocoPhillips (NYSE:COP)

Blackstone Inc. increased its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 188.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 27,671 shares of the energy producer's stock after purchasing an additional 18,069 shares during the period. Blackstone Inc.'s holdings in ConocoPhillips were worth $2,744,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its position in ConocoPhillips by 13.8% during 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 buying an additional 5,549,078 shares during the period. Leavell Investment Management Inc. increased its holdings 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 worth $1,901,000 after purchasing an additional 7,174 shares during the period. Brookstone Capital Management boosted its stake in shares of ConocoPhillips by 4.5% in the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer's stock valued at $878,000 after buying an additional 383 shares during the period. Principal Financial Group Inc. increased its stake 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 worth $155,211,000 after acquiring an additional 32,948 shares during the period. Finally, Fiduciary Alliance LLC raised its holdings in ConocoPhillips by 13.6% in the 4th quarter. Fiduciary Alliance LLC now owns 186,535 shares of the energy producer's stock valued at $18,499,000 after acquiring an additional 22,378 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $87.61 on Tuesday. The stock has a market cap of $110.75 billion, a price-to-earnings ratio of 11.25, a P/E/G ratio of 0.79 and a beta of 0.64. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $125.22. The company's fifty day moving average is $93.61 and its 200 day moving average is $99.83. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

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

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given 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 dividend yield of 3.56%. ConocoPhillips's dividend payout ratio (DPR) is currently 40.05%.

Analyst Ratings Changes

A number of research analysts recently commented on COP shares. The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a research note on Thursday, January 30th. Royal Bank of Canada cut their target price on ConocoPhillips from $133.00 to $120.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Barclays decreased their price target on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Truist Financial upped their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Finally, Scotiabank lowered their target price on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a research note on Friday, April 11th. Three equities research 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $124.79.

ConocoPhillips 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.