Russell Investments Group Ltd. Purchases 136,753 Shares of ConocoPhillips (NYSE:COP)

Russell Investments Group Ltd. increased its holdings in shares of ConocoPhillips (NYSE:COP) by 10.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,429,240 shares of the energy producer’s stock after purchasing an additional 136,753 shares during the period. Russell Investments Group Ltd. owned 0.12% of ConocoPhillips worth $141,732,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Albion Financial Group UT boosted its holdings in shares of ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in ConocoPhillips during the 4th quarter worth $26,000. Centricity Wealth Management LLC acquired a new position in shares of ConocoPhillips in the fourth quarter valued at about $27,000. Crowley Wealth Management Inc. bought a new stake in ConocoPhillips in the 4th quarter valued at about $32,000. Finally, Global Wealth Strategies & Associates lifted its position in ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP opened at $86.18 on Friday. 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 fifty-two week low of $85.55 and a fifty-two week high of $135.18. The firm has a market cap of $108.95 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. The business has a 50 day moving average price of $98.53 and a 200-day moving average price of $103.14.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.62%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on COP. Morgan Stanley lowered their price objective on ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Truist Financial increased their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Barclays dropped their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $132.95.

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.