ConocoPhillips (NYSE:COP) Shares Acquired by CoreCommodity Management LLC

CoreCommodity Management LLC grew its stake in ConocoPhillips (NYSE:COP - Free Report) by 8.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,629 shares of the energy producer's stock after acquiring an additional 3,783 shares during the period. ConocoPhillips accounts for 0.9% of CoreCommodity Management LLC's holdings, making the stock its 12th biggest holding. CoreCommodity Management LLC's holdings in ConocoPhillips were worth $4,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Corigliano Investment Advisers LLC purchased a new position in ConocoPhillips during the 4th quarter worth $12,841,000. Cornerstone Select Advisors LLC purchased a new position in shares of ConocoPhillips during the fourth quarter valued at $209,000. Crestline Management LP raised its holdings in shares of ConocoPhillips by 43.3% in the fourth quarter. Crestline Management LP now owns 16,912 shares of the energy producer's stock valued at $1,677,000 after acquiring an additional 5,111 shares in the last quarter. Capital Advantage Inc. purchased a new stake in ConocoPhillips in the fourth quarter worth about $261,000. Finally, Capitolis Liquid Global Markets LLC grew its holdings in ConocoPhillips by 2.7% during the 4th quarter. Capitolis Liquid Global Markets LLC now owns 1,998,500 shares of the energy producer's stock worth $198,191,000 after acquiring an additional 52,400 shares in the last quarter. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Performance

Shares of COP stock traded down $0.24 on Friday, hitting $88.58. The company had a trading volume of 7,568,420 shares, compared to its average volume of 7,274,655. The firm has a market cap of $111.98 billion, a P/E ratio of 11.37, a price-to-earnings-growth 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 $123.98. The company has a 50-day moving average price of $93.08 and a 200-day moving average price of $99.44. 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 announced its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. The company had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same period in the previous year, the company posted $2.05 earnings per share. As a group, equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a $0.78 dividend. The ex-dividend date is Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.52%. ConocoPhillips's dividend payout ratio (DPR) is currently 40.05%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Truist Financial boosted their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a "buy" rating in a report on Monday, January 13th. Susquehanna set a $136.00 price objective on shares of ConocoPhillips in a research note on Tuesday, April 22nd. Raymond James cut ConocoPhillips from a "strong-buy" rating to an "outperform" rating and dropped their target price for the company from $157.00 to $124.00 in a research report on Monday, February 10th. Royal Bank of Canada reduced their price target on ConocoPhillips from $133.00 to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Finally, Morgan Stanley raised their price objective on ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a research report on Friday. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of "Moderate Buy" and a consensus price target of $124.89.

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.