Northern Trust Corp Has $1.36 Billion Stake in ConocoPhillips (NYSE:COP)

Northern Trust Corp grew its stake in ConocoPhillips (NYSE:COP - Free Report) by 27.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 13,757,835 shares of the energy producer's stock after buying an additional 2,971,661 shares during the quarter. Northern Trust Corp owned 1.20% of ConocoPhillips worth $1,364,364,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of ConocoPhillips by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock valued at $4,546,706,000 after purchasing an additional 5,549,078 shares during the last quarter. Tidal Investments LLC lifted its stake in ConocoPhillips by 42.7% in the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer's stock valued at $10,902,000 after buying an additional 31,011 shares during the last quarter. Leavell Investment Management Inc. boosted its holdings in shares of ConocoPhillips by 59.8% in the fourth quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer's stock valued at $1,901,000 after acquiring an additional 7,174 shares during the period. Brookstone Capital Management grew its position in shares of ConocoPhillips by 4.5% during the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer's stock worth $878,000 after acquiring an additional 383 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of ConocoPhillips by 2.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,474,270 shares of the energy producer's stock valued at $155,211,000 after acquiring an additional 32,948 shares during the period. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Price Performance

Shares of NYSE COP traded up $1.59 during mid-day trading on Thursday, hitting $90.71. 8,027,447 shares of the stock were exchanged, compared to its average volume of 7,175,847. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $125.22. The stock's fifty day simple moving average is $94.05 and its two-hundred day simple moving average is $100.26. 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 company has a market cap of $114.67 billion, a P/E ratio of 11.64, a PEG ratio of 0.79 and a beta of 0.83.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.44%. ConocoPhillips's dividend payout ratio (DPR) is presently 40.05%.

Analyst Ratings Changes

COP has been the topic of a number of analyst reports. Truist Financial lifted their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a "buy" rating in a research report on Monday, January 13th. JPMorgan Chase & Co. dropped 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. Royal Bank of Canada reduced their price objective on shares of ConocoPhillips from $133.00 to $120.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Scotiabank dropped 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. Finally, TD Cowen started coverage on ConocoPhillips in a report on Friday, January 17th. They issued a "buy" rating and a $125.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, ConocoPhillips presently has a consensus rating of "Moderate Buy" and an average target price of $124.79.

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.