Allspring Global Investments Holdings LLC Has $89.47 Million Stake in ConocoPhillips (NYSE:COP)

Allspring Global Investments Holdings LLC increased its position in ConocoPhillips (NYSE:COP) by 3.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 702,917 shares of the energy producer’s stock after purchasing an additional 20,621 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.06% of ConocoPhillips worth $89,467,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Orion Capital Management LLC bought a new stake in shares of ConocoPhillips during the third quarter worth about $27,000. West Branch Capital LLC raised its stake in shares of ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares during the last quarter. Sachetta LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter worth approximately $27,000. Cooksen Wealth LLC bought a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $27,000. Finally, Cape Investment Advisory Inc. boosted its position in shares of ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after buying an additional 121 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

NYSE COP traded up $0.81 during trading on Tuesday, hitting $115.17. 322,903 shares of the company’s stock traded hands, compared to its average volume of 5,643,337. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. The stock has a market capitalization of $134.69 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 2.04 and a beta of 1.24. ConocoPhillips has a 12-month low of $99.35 and a 12-month high of $135.18. The business has a 50 day moving average of $118.30 and a 200-day moving average of $117.62.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, topping the consensus estimate of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The company had revenue of $14.48 billion during the quarter, compared to the consensus estimate of $14.72 billion. As a group, equities research analysts anticipate that ConocoPhillips will post 8.89 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on COP shares. Raymond James reissued a “strong-buy” rating and issued a $159.00 price target (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Morgan Stanley raised their price target on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Mizuho reduced their price objective on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. Barclays lifted their target price on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Finally, Royal Bank of Canada upped their target price on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.18.

ConocoPhillips Company 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.