ConocoPhillips (NYSE:COP) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its position in shares of ConocoPhillips (NYSE:COP) by 44.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,750,826 shares of the energy producer’s stock after acquiring an additional 540,702 shares during the quarter. Thrivent Financial for Lutherans owned about 0.15% of ConocoPhillips worth $174,069,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. State Street Corp increased its position in ConocoPhillips by 19.0% during the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after purchasing an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP grew its stake in ConocoPhillips by 20.2% during the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after buying an additional 5,240,016 shares during the period. Geode Capital Management LLC increased its position in shares of ConocoPhillips by 3.9% in the third quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock worth $2,601,639,000 after acquiring an additional 924,289 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of ConocoPhillips by 10.6% in the 4th quarter. Fisher Asset Management LLC now owns 13,780,782 shares of the energy producer’s stock valued at $1,366,640,000 after acquiring an additional 1,324,771 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of ConocoPhillips by 12.5% during the 3rd quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock valued at $1,469,163,000 after acquiring an additional 1,506,599 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The shares were purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $99.42 on Tuesday. 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 firm has a market capitalization of $126.50 billion, a PE ratio of 12.76, a P/E/G ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 1-year low of $86.81 and a 1-year high of $135.18. The business’s fifty day moving average price is $99.22 and its two-hundred day moving average price is $103.65.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share 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%. On average, research analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given 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 3.14%. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Analysts Set New Price Targets

COP has been the subject of several recent research reports. Piper Sandler lowered their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $157.00 to $124.00 in a research note on Monday, February 10th. JPMorgan Chase & Co. reduced their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Barclays lowered their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Finally, Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $133.05.

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.