Dimensional Fund Advisors LP Increases Position in ConocoPhillips $COP

Key Points

• Dimensional Fund Advisors LP increased its stake in ConocoPhillips by 0.7% in the first quarter, adding 74,261 shares and bringing its total holding to 11,044,489 shares, worth about $1.46 billion.
• Institutional ownership remains heavy, with hedge funds and other institutions holding 82.36% of ConocoPhillips shares. Several large investors also boosted their positions, including Vanguard, Capital International Investors, and Charles Schwab Investment Management.
• ConocoPhillips beat quarterly earnings expectations, reporting $1.89 EPS versus the $1.72 consensus and revenue of $15.76 billion. The company also paid a quarterly dividend of $0.84 per share, implying a 2.9% annual yield.

Dimensional Fund Advisors LP increased its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 0.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,044,489 shares of the energy producer's stock after acquiring an additional 74,261 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.91% of ConocoPhillips worth $1,457,978,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in ConocoPhillips by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer's stock valued at $11,256,713,000 after acquiring an additional 408,304 shares during the last quarter. Capital International Investors boosted its holdings in shares of ConocoPhillips by 5.9% during the fourth quarter. Capital International Investors now owns 48,360,060 shares of the energy producer's stock worth $4,527,230,000 after purchasing an additional 2,714,663 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of ConocoPhillips by 6.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer's stock valued at $3,880,151,000 after purchasing an additional 2,350,645 shares during the period. Franklin Resources Inc. grew its position in shares of ConocoPhillips by 4.5% in the fourth quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer's stock valued at $1,407,770,000 after purchasing an additional 648,432 shares during the period. Finally, Fisher Asset Management LLC increased its stake in ConocoPhillips by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer's stock valued at $1,389,862,000 after purchasing an additional 193,401 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Jefferies Financial Group increased their target price on ConocoPhillips from $160.00 to $161.00 and gave the stock a "buy" rating in a research report on Monday, May 18th. Zacks Research cut ConocoPhillips from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 27th. Argus upped their price objective on shares of ConocoPhillips from $128.00 to $136.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Barclays increased their price objective on shares of ConocoPhillips from $136.00 to $155.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. Finally, Truist Financial decreased their target price on shares of ConocoPhillips from $128.00 to $115.00 and set a "hold" rating on the stock in a research report on Wednesday, July 8th. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $134.04.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $114.70 on Monday. The business's fifty day moving average price is $113.48 and its 200 day moving average price is $113.52. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $139.74 billion, a P/E ratio of 19.47, a PEG ratio of 1.39 and a beta of 0.12.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. The company had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm's revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.09 earnings per share. As a group, research analysts anticipate that ConocoPhillips will post 9.2 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were issued a dividend of $0.84 per share. The ex-dividend date was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. ConocoPhillips's payout ratio is presently 57.05%.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips agreed to acquire a 42% stake in BP’s Iraq venture, increasing its exposure to the Kirkuk oilfields and more than 3 billion barrels of recoverable resources. Reuters article
• Positive Sentiment: The company’s Iraq agreement is part of a broader wave of U.S. corporate commitments to support Iraqi energy development, which may signal additional international growth potential. Financial Post article
• Positive Sentiment: Energy shares were broadly stronger, helping support ConocoPhillips alongside a sector-wide move higher. Yahoo Finance article
• Neutral Sentiment: Several reports noted that COP tends to move with crude oil prices, so commodity trends remain an important near-term driver for the stock. Kalkine Media article

ConocoPhillips Profile

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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