ConocoPhillips (NYSE:COP) Stake Raised by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its holdings in shares of ConocoPhillips (NYSE:COP) by 11.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 444,137 shares of the energy producer’s stock after acquiring an additional 45,522 shares during the period. Pictet Asset Management Holding SA’s holdings in ConocoPhillips were worth $44,045,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of COP. Orrstown Financial Services Inc. grew its holdings in shares of ConocoPhillips by 3.0% in the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock valued at $331,000 after buying an additional 96 shares during the period. Principle Wealth Partners LLC lifted its holdings in ConocoPhillips by 0.3% during the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock worth $3,695,000 after acquiring an additional 100 shares in the last quarter. Arlington Trust Co LLC grew its stake in ConocoPhillips by 1.2% in the fourth quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock valued at $857,000 after acquiring an additional 102 shares during the period. Courier Capital LLC increased its holdings in shares of ConocoPhillips by 0.5% in the fourth quarter. Courier Capital LLC now owns 20,481 shares of the energy producer’s stock worth $2,031,000 after acquiring an additional 103 shares in the last quarter. Finally, Gray Wealth Management Inc. raised its position in shares of ConocoPhillips by 5.0% during the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock worth $215,000 after purchasing an additional 104 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COP has been the topic of several research analyst reports. Morgan Stanley dropped their target price on shares of ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating on the stock in a report on Thursday. Wells Fargo & Company cut their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a report on Thursday, January 30th. Piper Sandler cut their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. dropped their price objective on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Two investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.95.

ConocoPhillips Stock Down 0.4 %

COP opened at $102.37 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The stock has a fifty day moving average of $98.95 and a 200-day moving average of $103.28. ConocoPhillips has a fifty-two week low of $86.81 and a fifty-two week high of $135.18. The company has a market capitalization of $130.26 billion, a P/E ratio of 13.14, a P/E/G ratio of 0.79 and a beta of 1.12.

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, 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, equities analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio is currently 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.