64,632 Shares in ConocoPhillips (NYSE:COP) Purchased by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd purchased a new stake in ConocoPhillips (NYSE:COP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 64,632 shares of the energy producer's stock, valued at approximately $6,410,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. ProShare Advisors LLC raised its stake in shares of ConocoPhillips by 20.9% during the 4th quarter. ProShare Advisors LLC now owns 240,246 shares of the energy producer's stock worth $23,825,000 after buying an additional 41,604 shares in the last quarter. Quadcap Wealth Management LLC raised its position in ConocoPhillips by 53.2% in the fourth quarter. Quadcap Wealth Management LLC now owns 15,345 shares of the energy producer's stock worth $1,522,000 after acquiring an additional 5,328 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of ConocoPhillips by 51.1% during the 4th quarter. Quantinno Capital Management LP now owns 154,086 shares of the energy producer's stock worth $15,281,000 after purchasing an additional 52,096 shares in the last quarter. Pathstone Holdings LLC increased its holdings in ConocoPhillips by 39.1% in the fourth quarter. Pathstone Holdings LLC now owns 183,619 shares of the energy producer's stock valued at $18,212,000 after buying an additional 51,642 shares in the last quarter. Finally, Mufg Securities Americas Inc. acquired a new stake in shares of ConocoPhillips during the 4th quarter valued at approximately $1,894,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 0.7%

NYSE COP traded down $0.62 on Friday, reaching $92.34. The company had a trading volume of 6,693,880 shares, compared to its average volume of 7,325,888. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $122.11. The firm has a 50-day moving average of $93.24 and a 200-day moving average of $99.03. The firm has a market capitalization of $116.73 billion, a PE ratio of 11.85, a P/E/G ratio of 0.79 and a beta of 0.64.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating 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 business had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. During the same period last year, the business earned $2.05 EPS. On average, equities 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. Stockholders of record on Monday, May 19th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Monday, May 19th. ConocoPhillips's payout ratio is 39.64%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on COP. Piper Sandler reduced their target price on shares of ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating on the stock in a report on Tuesday. Susquehanna lowered their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a research note on Monday, May 12th. JPMorgan Chase & Co. reduced their price target on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Barclays decreased their price objective on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, Bank of America downgraded ConocoPhillips from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $138.00 to $107.00 in a research report on Tuesday, April 29th. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $122.74.

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.