Fisher Asset Management LLC Buys 1,324,771 Shares of ConocoPhillips (NYSE:COP)

Fisher Asset Management LLC raised its stake in shares of ConocoPhillips (NYSE:COP) by 10.6% in the 4th quarter, Holdings Channel reports. The firm owned 13,780,782 shares of the energy producer’s stock after purchasing an additional 1,324,771 shares during the quarter. Fisher Asset Management LLC’s holdings in ConocoPhillips were worth $1,366,640,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. State Street Corp grew its holdings 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 acquiring an additional 10,663,093 shares during the period. Wellington Management Group LLP grew its holdings in ConocoPhillips by 20.2% during the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after acquiring an additional 5,240,016 shares during the period. Geode Capital Management LLC grew its holdings in ConocoPhillips by 3.9% during the 3rd 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 during the period. Franklin Resources Inc. grew its holdings in ConocoPhillips by 12.5% during the 3rd quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock worth $1,469,163,000 after acquiring an additional 1,506,599 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in ConocoPhillips by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,096,450 shares of the energy producer’s stock worth $747,114,000 after acquiring an additional 153,944 shares during the period. 82.36% of the stock is owned by institutional investors.

Insider Buying and Selling

In other ConocoPhillips news, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the purchase, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on COP shares. Truist Financial increased their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Piper Sandler decreased 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. Wells Fargo & Company reduced their target price on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Evercore ISI restated an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their target price for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.47.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $99.12 on Friday. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The company’s 50 day moving average price is $100.19 and its two-hundred day moving average price is $105.08. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The stock has a market cap of $126.12 billion, a P/E ratio of 12.72, a P/E/G ratio of 0.79 and a beta of 1.18.

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

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.15%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

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.