Ethic Inc. Grows Stock Position in ConocoPhillips (NYSE:COP)

Ethic Inc. lifted its stake in ConocoPhillips (NYSE:COP - Free Report) by 208.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,035 shares of the energy producer's stock after buying an additional 12,862 shares during the quarter. Ethic Inc.'s holdings in ConocoPhillips were worth $1,888,000 as of its most recent SEC filing.

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

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $92.18 on Tuesday. The business's 50 day moving average price is $93.14 and its 200 day moving average price is $99.28. The company has a market cap of $116.53 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 0.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a one year low of $79.88 and a one year high of $122.56.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. The business 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 last year, the company earned $2.05 EPS. On average, research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is presently 39.64%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on COP shares. Truist Financial upped their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Wells Fargo & Company reduced their target price on ConocoPhillips from $131.00 to $116.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. TD Cowen assumed coverage on ConocoPhillips in a research report on Friday, January 17th. They set a "buy" rating and a $125.00 target price on the stock. The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a research report on Thursday, January 30th. Finally, Raymond James downgraded shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the company from $157.00 to $124.00 in a report on Monday, February 10th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of "Moderate Buy" and an average price target of $123.74.

About ConocoPhillips

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.

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