Worldquant Millennium Advisors LLC Reduces Holdings in ConocoPhillips (NYSE:COP)

Worldquant Millennium Advisors LLC trimmed its holdings in ConocoPhillips (NYSE:COP - Free Report) by 22.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 370,108 shares of the energy producer's stock after selling 107,067 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in ConocoPhillips were worth $36,704,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in COP. Waverly Advisors LLC boosted its holdings in ConocoPhillips by 293.6% in the 4th quarter. Waverly Advisors LLC now owns 38,420 shares of the energy producer's stock valued at $3,810,000 after purchasing an additional 28,660 shares during the last quarter. Willis Johnson & Associates Inc. raised its position in shares of ConocoPhillips by 9.8% during the 4th quarter. Willis Johnson & Associates Inc. now owns 2,577 shares of the energy producer's stock valued at $256,000 after buying an additional 230 shares during the period. Woodline Partners LP acquired a new position in ConocoPhillips in the fourth quarter valued at approximately $7,704,000. Zurich Insurance Group Ltd FI acquired a new position in ConocoPhillips in the fourth quarter valued at approximately $33,500,000. Finally, Vident Advisory LLC grew its position in ConocoPhillips by 33.1% in the fourth quarter. Vident Advisory LLC now owns 37,899 shares of the energy producer's stock worth $3,759,000 after acquiring an additional 9,418 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on COP. Royal Bank of Canada reduced their target price on ConocoPhillips from $133.00 to $120.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Morgan Stanley raised their price objective on ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Barclays decreased their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler lowered their target price on shares of ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Finally, JPMorgan Chase & Co. reduced their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of "Moderate Buy" and an average target price of $121.89.

ConocoPhillips Stock Down 1.1%

NYSE:COP traded down $0.94 during midday trading on Monday, reaching $85.19. The company had a trading volume of 6,786,423 shares, compared to its average volume of 7,397,724. The stock's fifty day simple moving average is $92.15 and its 200-day simple moving average is $98.16. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $107.69 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 0.79 and a beta of 0.64. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $119.23.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The firm had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. During the same period in the prior year, the firm earned $2.05 earnings per share. On average, sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal 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 issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.66%. The ex-dividend date is Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is presently 39.64%.

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.