20,300 Shares in ConocoPhillips (NYSE:COP) Bought by Thomist Capital Management LP

Thomist Capital Management LP bought a new stake in ConocoPhillips (NYSE:COP - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 20,300 shares of the energy producer's stock, valued at approximately $2,005,000.

Several other hedge funds have also modified their holdings of the company. Scissortail Wealth Management LLC raised its holdings in ConocoPhillips by 377,952.6% in the 4th quarter. Scissortail Wealth Management LLC now owns 71,830 shares of the energy producer's stock worth $7,123,000 after purchasing an additional 71,811 shares during the period. Second Line Capital LLC lifted its position in shares of ConocoPhillips by 2.2% during the 4th quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer's stock valued at $495,000 after buying an additional 108 shares in the last quarter. Snowden Capital Advisors LLC grew its stake in ConocoPhillips by 32.6% in the 4th quarter. Snowden Capital Advisors LLC now owns 33,164 shares of the energy producer's stock valued at $3,289,000 after acquiring an additional 8,145 shares during the period. Siemens Fonds Invest GmbH grew its stake in ConocoPhillips by 410.5% in the 4th quarter. Siemens Fonds Invest GmbH now owns 121,388 shares of the energy producer's stock valued at $12,038,000 after acquiring an additional 97,608 shares during the period. Finally, Silvercrest Asset Management Group LLC increased its holdings in ConocoPhillips by 68.6% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 433,032 shares of the energy producer's stock worth $42,944,000 after acquiring an additional 176,199 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Down 2.8%

Shares of COP traded down $2.54 during midday trading on Wednesday, hitting $87.15. 8,624,526 shares of the stock were exchanged, compared to its average volume of 7,358,932. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The firm has a market cap of $110.17 billion, a P/E ratio of 11.19, a P/E/G ratio of 0.79 and a beta of 0.64. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $119.72. The stock has a fifty day simple moving average of $92.96 and a 200 day simple moving average of $98.77.

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, beating the consensus estimate 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 EPS. On average, research analysts anticipate that ConocoPhillips will post 8.16 EPS 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 paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.58%. The ex-dividend date is Monday, May 19th. ConocoPhillips's payout ratio is currently 39.64%.

Analysts Set New Price Targets

Several research firms have issued reports on COP. Bank of America downgraded shares of ConocoPhillips from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $138.00 to $107.00 in a report on Tuesday, April 29th. Scotiabank decreased their target price on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a research report on Friday, April 11th. Raymond James increased their price objective on ConocoPhillips from $103.00 to $109.00 and gave the company an "outperform" rating in a research note on Tuesday. JPMorgan Chase & Co. decreased their price objective on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, Piper Sandler reduced their target price on shares of ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $121.95.

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.