ConocoPhillips (NYSE:COP) Shares Purchased by Corebridge Financial Inc.

Corebridge Financial Inc. boosted its stake in shares of ConocoPhillips (NYSE:COP) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 297,300 shares of the energy producer’s stock after acquiring an additional 12,420 shares during the quarter. Corebridge Financial Inc.’s holdings in ConocoPhillips were worth $29,483,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of COP. Tidal Investments LLC grew its position in ConocoPhillips by 42.7% in the 3rd 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 in the last quarter. Brookstone Capital Management increased its stake 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 period. The Manufacturers Life Insurance Company raised its holdings in ConocoPhillips by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock worth $262,094,000 after purchasing an additional 46,621 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in ConocoPhillips by 2.3% in the third quarter. Principal Financial Group Inc. now owns 1,474,270 shares of the energy producer’s stock valued at $155,211,000 after purchasing an additional 32,948 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COP has been the subject of a number of analyst reports. Truist Financial increased their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a research report on Thursday, January 30th. Barclays decreased their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Piper Sandler cut their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Evercore ISI reissued an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.05.

ConocoPhillips Price Performance

NYSE:COP opened at $102.05 on Monday. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18. The firm has a market cap of $129.84 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The company’s 50-day moving average is $99.21 and its two-hundred day moving average is $103.37. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last announced its earnings results 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%. Research analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio is currently 40.05%.

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.