ConocoPhillips (NYSE:COP) Shares Acquired by Redwood Investment Management LLC

Redwood Investment Management LLC increased its holdings in ConocoPhillips (NYSE:COP) by 1.0% during the 1st quarter, HoldingsChannel reports. The fund owned 13,996 shares of the energy producer’s stock after acquiring an additional 140 shares during the quarter. Redwood Investment Management LLC’s holdings in ConocoPhillips were worth $1,781,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its stake in shares of ConocoPhillips by 35.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock worth $4,097,473,000 after buying an additional 8,479,963 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of ConocoPhillips by 512.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock valued at $433,757,000 after purchasing an additional 3,127,165 shares during the period. Alphinity Investment Management Pty Ltd increased its stake in ConocoPhillips by 78.2% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 4,611,763 shares of the energy producer’s stock valued at $535,287,000 after buying an additional 2,023,263 shares during the period. Capital International Investors raised its position in shares of ConocoPhillips by 9.6% during the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after buying an additional 1,856,085 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of ConocoPhillips by 3,931.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,455,878 shares of the energy producer’s stock worth $185,304,000 after acquiring an additional 1,419,764 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 1.2 %

Shares of NYSE:COP traded up $1.29 during trading on Wednesday, reaching $111.20. 7,513,939 shares of the company traded hands, compared to its average volume of 5,623,808. The firm has a fifty day simple moving average of $113.17 and a 200 day simple moving average of $117.14. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 1-year low of $105.77 and a 1-year high of $135.18. The firm has a market cap of $130.05 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 2.15 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The firm had revenue of $14.48 billion during the quarter, compared to analysts’ expectations of $14.72 billion. Analysts anticipate that ConocoPhillips will post 8.73 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.81%. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on COP. Piper Sandler upped their target price on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Wells Fargo & Company upped their price objective on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Scotiabank lowered their target price on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Sanford C. Bernstein cut their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Finally, Mizuho dropped their target price on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a report on Wednesday, June 5th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $143.24.

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.