Wellington Management Group LLP Raises Stock Position in ConocoPhillips (NYSE:COP)

Wellington Management Group LLP boosted its position in shares of ConocoPhillips (NYSE:COP) by 0.0% in the fourth quarter, HoldingsChannel reports. The fund owned 31,172,899 shares of the energy producer’s stock after purchasing an additional 11,002 shares during the quarter. Wellington Management Group LLP’s holdings in ConocoPhillips were worth $3,091,416,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of ConocoPhillips by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock worth $12,081,491,000 after purchasing an additional 12,751,120 shares in the last quarter. State Street Corp raised its stake in ConocoPhillips by 19.0% in the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after buying an additional 10,663,093 shares during the last quarter. Geode Capital Management LLC boosted its holdings in ConocoPhillips by 3.9% in the third quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock worth $2,601,639,000 after acquiring an additional 924,289 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of ConocoPhillips by 10.6% during the fourth quarter. Fisher Asset Management LLC now owns 13,780,782 shares of the energy producer’s stock worth $1,366,640,000 after acquiring an additional 1,324,771 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of ConocoPhillips by 12.5% during the third quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock valued at $1,469,163,000 after acquiring an additional 1,506,599 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 0.4 %

Shares of COP opened at $102.37 on Monday. The company’s 50-day simple moving average is $98.95 and its 200-day simple moving average is $103.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18. The stock has a market capitalization of $130.26 billion, a PE ratio of 13.14, a P/E/G ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal 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 issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.05%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their price target for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Morgan Stanley cut their target price on ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating on the stock in a research report on Thursday. Truist Financial lifted their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Wells Fargo & Company cut their price objective on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Finally, TD Cowen assumed coverage on ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $132.95.

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.