SIR Capital Management L.P. Purchases 389,000 Shares of ConocoPhillips (NYSE:COP)

SIR Capital Management L.P. grew its stake in ConocoPhillips (NYSE:COP - Free Report) by 78.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 885,232 shares of the energy producer's stock after buying an additional 389,000 shares during the quarter. ConocoPhillips accounts for about 9.1% of SIR Capital Management L.P.'s portfolio, making the stock its largest holding. SIR Capital Management L.P. owned about 0.08% of ConocoPhillips worth $87,788,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of COP. Price T Rowe Associates Inc. MD boosted its position in ConocoPhillips by 13.8% during the fourth 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 purchasing an additional 5,549,078 shares in the last quarter. Leavell Investment Management Inc. raised its position in 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 acquiring an additional 7,174 shares during the period. Brookstone Capital Management lifted 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 valued at $878,000 after purchasing an additional 383 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter worth about $1,767,000. Finally, Asset Management One Co. Ltd. boosted its holdings in ConocoPhillips by 11.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 519,371 shares of the energy producer's stock worth $50,345,000 after buying an additional 54,196 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Down 2.3%

NYSE:COP traded down $2.10 during mid-day trading on Monday, hitting $90.33. The stock had a trading volume of 7,190,074 shares, compared to its average volume of 7,325,344. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $122.11. The company has a market capitalization of $114.19 billion, a PE ratio of 11.60, a PEG ratio of 0.79 and a beta of 0.64. The stock has a 50-day simple moving average of $93.24 and a two-hundred day simple moving average of $98.96.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. The business had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same period last year, the business earned $2.05 EPS. On average, equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.45%. The ex-dividend date is Monday, May 19th. ConocoPhillips's payout ratio is 39.64%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Raymond James downgraded ConocoPhillips from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the company from $157.00 to $124.00 in a research note on Monday, February 10th. Piper Sandler lowered their price target on shares of ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Morgan Stanley increased their price objective on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a report on Friday, May 9th. JPMorgan Chase & Co. lowered their price objective on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Finally, Bank of America lowered ConocoPhillips from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $138.00 to $107.00 in a report on Tuesday, April 29th. Three research 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 company presently has a consensus rating of "Moderate Buy" and a consensus target price of $122.74.

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.