Headlands Technologies LLC Acquires 57,574 Shares of ConocoPhillips (NYSE:COP)

Headlands Technologies LLC raised its holdings in ConocoPhillips (NYSE:COP) by 390.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,320 shares of the energy producer’s stock after acquiring an additional 57,574 shares during the period. ConocoPhillips comprises 0.7% of Headlands Technologies LLC’s holdings, making the stock its 20th biggest holding. Headlands Technologies LLC’s holdings in ConocoPhillips were worth $7,172,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Bridgewater Associates LP boosted its holdings in shares of ConocoPhillips by 58.9% during the 3rd quarter. Bridgewater Associates LP now owns 3,079 shares of the energy producer’s stock valued at $324,000 after acquiring an additional 1,141 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of ConocoPhillips during the third quarter valued at about $7,017,000. Kestra Investment Management LLC acquired a new position in shares of ConocoPhillips in the third quarter valued at approximately $403,000. Paloma Partners Management Co increased its stake in shares of ConocoPhillips by 202.5% in the third quarter. Paloma Partners Management Co now owns 321,944 shares of the energy producer’s stock valued at $33,894,000 after buying an additional 215,532 shares during the period. Finally, Benjamin Edwards Inc. boosted its position in ConocoPhillips by 489.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 26,711 shares of the energy producer’s stock worth $2,814,000 after buying an additional 22,182 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of several recent research reports. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from $157.00 to $124.00 in a research report on Monday, February 10th. Piper Sandler decreased their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. UBS Group cut their target price on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Barclays decreased their price target on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.95.

ConocoPhillips Price Performance

COP opened at $105.04 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The stock’s 50 day simple moving average is $98.94 and its 200 day simple moving average is $103.29. The firm has a market cap of $133.65 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results 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 predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 2.97%. ConocoPhillips’s payout ratio is presently 40.05%.

ConocoPhillips 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.