Korea Investment CORP Acquires 3,424 Shares of ConocoPhillips (NYSE:COP)

Korea Investment CORP increased its holdings in shares of ConocoPhillips (NYSE:COP) by 0.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,054,671 shares of the energy producer’s stock after purchasing an additional 3,424 shares during the quarter. Korea Investment CORP’s holdings in ConocoPhillips were worth $104,592,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of COP. Tidal Investments LLC increased its position in shares of ConocoPhillips by 42.7% during the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock worth $10,902,000 after acquiring an additional 31,011 shares in the last quarter. Leavell Investment Management Inc. increased its holdings in ConocoPhillips by 59.8% during the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock worth $1,901,000 after purchasing an additional 7,174 shares in the last quarter. Brookstone Capital Management raised its stake in shares of ConocoPhillips by 4.5% in the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after purchasing an additional 383 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of ConocoPhillips by 2.3% in the third quarter. Principal Financial Group Inc. now owns 1,474,270 shares of the energy producer’s stock valued at $155,211,000 after purchasing an additional 32,948 shares in the last quarter. Finally, Fiduciary Alliance LLC boosted its position in shares of ConocoPhillips by 13.6% during the fourth quarter. Fiduciary Alliance LLC now owns 186,535 shares of the energy producer’s stock worth $18,499,000 after buying an additional 22,378 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. UBS Group dropped their target price on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. 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. Raymond James downgraded shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $157.00 to $124.00 in a research report on Monday, February 10th. TD Cowen initiated coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price target on the stock. Finally, Piper Sandler decreased their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Two 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 stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $133.05.

ConocoPhillips Trading Up 0.6 %

Shares of ConocoPhillips stock opened at $103.15 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The business has a fifty day simple moving average of $99.08 and a two-hundred day simple moving average of $103.31. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18. The company has a market capitalization of $131.25 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping 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%. Research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Friday, February 14th. 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.