Allspring Global Investments Holdings LLC Has $77.79 Million Position in ConocoPhillips $COP

Key Points

• Allspring Global Investments Holdings LLC increased its stake in ConocoPhillips (NYSE:COP) by 14.5% during the second quarter, now owning approximately 845,654 shares valued at $77.79 million.
• Several institutional investors have significantly increased their holdings in ConocoPhillips, with notable investments including Schwartz Investment Counsel Inc. boosting its position by 159.6% and ORG Wealth Partners LLC by 853.3%.
• Analyst ratings are favorable for ConocoPhillips, with 17 analysts issuing a Buy rating and an average price target of $117.65, reflecting strong market confidence in the company.

Allspring Global Investments Holdings LLC grew its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 14.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 845,654 shares of the energy producer's stock after purchasing an additional 107,114 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.07% of ConocoPhillips worth $77,792,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Schwartz Investment Counsel Inc. boosted its position in ConocoPhillips by 159.6% during the 1st quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock worth $5,125,000 after buying an additional 30,000 shares during the period. Aberdeen Group plc lifted its holdings in shares of ConocoPhillips by 49.3% during the first quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer's stock worth $83,969,000 after purchasing an additional 264,726 shares during the period. ORG Wealth Partners LLC grew its stake in shares of ConocoPhillips by 853.3% in the first quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock worth $698,000 after purchasing an additional 5,922 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in ConocoPhillips by 17.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer's stock valued at $13,927,000 after purchasing an additional 22,827 shares during the period. Finally, Ashton Thomas Private Wealth LLC increased its holdings in ConocoPhillips by 17.7% in the first quarter. Ashton Thomas Private Wealth LLC now owns 37,361 shares of the energy producer's stock valued at $3,924,000 after purchasing an additional 5,627 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

COP has been the topic of a number of analyst reports. Royal Bank Of Canada upped their price target on ConocoPhillips from $113.00 to $118.00 and gave the company an "outperform" rating in a research report on Monday. UBS Group upped their target price on ConocoPhillips from $116.00 to $124.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Melius Research started coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They set a "hold" rating and a $117.00 price target for the company. BMO Capital Markets upped their price objective on shares of ConocoPhillips from $115.00 to $117.00 and gave the company an "outperform" rating in a research note on Monday. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of ConocoPhillips in a research report on Wednesday, October 8th. Seventeen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $117.65.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $88.77 on Tuesday. The firm has a market capitalization of $110.87 billion, a P/E ratio of 11.92, a P/E/G ratio of 2.33 and a beta of 0.62. The firm's 50-day moving average price is $94.52 and its 200-day moving average price is $92.35. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.06. The business had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm's revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.98 EPS. Equities research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Monday, August 18th. ConocoPhillips's dividend payout ratio (DPR) is currently 41.88%.

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.

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