Focus Partners Advisor Solutions LLC Raises Stock Holdings in ConocoPhillips (NYSE:COP)

Focus Partners Advisor Solutions LLC grew its stake in shares of ConocoPhillips (NYSE:COP) by 48.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,523 shares of the energy producer’s stock after acquiring an additional 11,516 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in ConocoPhillips were worth $3,523,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in 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 during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of ConocoPhillips by 13.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock worth $4,546,706,000 after acquiring an additional 5,549,078 shares during the period. Invesco Ltd. increased its position in ConocoPhillips by 37.1% during the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock valued at $1,544,101,000 after acquiring an additional 4,211,939 shares during the last quarter. Geode Capital Management LLC increased its position in ConocoPhillips by 13.7% during the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock valued at $2,792,521,000 after acquiring an additional 3,397,360 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in ConocoPhillips by 27.6% in the fourth quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer’s stock valued at $1,364,364,000 after acquiring an additional 2,971,661 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

COP has been the subject of several research reports. Piper Sandler reduced their price target on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. Morgan Stanley upped their target price on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Bank of America downgraded shares of ConocoPhillips from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $138.00 to $107.00 in a research report on Tuesday, April 29th. Susquehanna lowered their target price on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a research report on Monday, May 12th. Finally, Scotiabank cut their price target on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $121.95.

ConocoPhillips Trading Down 2.8%

Shares of COP opened at $87.15 on Thursday. The stock has a market capitalization of $110.17 billion, a PE ratio of 11.19, a P/E/G ratio of 0.79 and a beta of 0.64. The company’s fifty day moving average is $92.72 and its 200 day moving average is $98.69. 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 $79.88 and a fifty-two week high of $119.72.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.04. The business had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same period last year, the company posted $2.05 EPS. Sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Monday, May 19th. ConocoPhillips’s payout ratio is 39.64%.

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.