UniSuper Management Pty Ltd Increases Stock Position in ConocoPhillips (NYSE:COP)

UniSuper Management Pty Ltd raised its position in ConocoPhillips (NYSE:COP) by 41.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,558 shares of the energy producer’s stock after acquiring an additional 23,600 shares during the quarter. UniSuper Management Pty Ltd’s holdings in ConocoPhillips were worth $7,989,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Albion Financial Group UT raised 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 last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of ConocoPhillips during the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC bought a new stake in ConocoPhillips in the fourth quarter valued at $27,000. Truvestments Capital LLC purchased a new position in ConocoPhillips during the 3rd quarter valued at $31,000. Finally, Crowley Wealth Management Inc. bought a new position in ConocoPhillips in the 4th quarter worth $32,000. 82.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on COP shares. JPMorgan Chase & Co. reduced their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a report on Thursday, January 30th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their target price for the company from $132.00 to $134.00 in a research note on Monday, December 16th. TD Cowen started coverage on ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price target on the stock. Finally, Piper Sandler lowered their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.95.

ConocoPhillips Trading Down 0.3 %

ConocoPhillips stock opened at $102.86 on Friday. ConocoPhillips has a one year low of $86.81 and a one year high of $135.18. The business’s fifty day moving average is $99.02 and its 200 day moving average is $103.30. The stock has a market capitalization of $130.87 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating 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 predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.03%. ConocoPhillips’s dividend payout ratio is presently 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.