Intech Investment Management LLC Has $6.11 Million Position in ConocoPhillips (NYSE:COP)

Intech Investment Management LLC lessened its stake in ConocoPhillips (NYSE:COP) by 35.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 61,611 shares of the energy producer’s stock after selling 33,351 shares during the period. Intech Investment Management LLC’s holdings in ConocoPhillips were worth $6,110,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Albion Financial Group UT increased its position in ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter worth $27,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips during the third quarter worth $31,000. RPg Family Wealth Advisory LLC acquired a new position in ConocoPhillips in the third quarter valued at $35,000. Finally, Marshall Investment Management LLC bought a new stake in ConocoPhillips during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on COP shares. Piper Sandler dropped their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Truist Financial boosted their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $132.00 to $134.00 in a report on Monday, December 16th. JPMorgan Chase & Co. lowered their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $133.05.

ConocoPhillips Stock Up 1.2 %

Shares of NYSE:COP opened at $100.51 on Wednesday. The business’s 50 day moving average is $99.19 and its 200 day moving average is $103.56. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18. The stock has a market cap of $127.88 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 0.79 and a beta of 1.12. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

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

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The stock was bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.34% of the company’s stock.

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.