Pitcairn Co. Acquires 2,356 Shares of ConocoPhillips (NYSE:COP)

Pitcairn Co. lifted its stake in ConocoPhillips (NYSE:COP) by 16.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,417 shares of the energy producer’s stock after purchasing an additional 2,356 shares during the period. Pitcairn Co.’s holdings in ConocoPhillips were worth $1,628,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Albion Financial Group UT grew its stake in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in ConocoPhillips in the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC purchased a new position in ConocoPhillips during the 4th quarter worth $27,000. Crowley Wealth Management Inc. purchased a new position in ConocoPhillips during the 4th quarter worth $32,000. Finally, Marshall Investment Management LLC bought a new stake in ConocoPhillips during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wells Fargo & Company cut their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. UBS Group cut their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. TD Cowen started coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target for the company. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $157.00 to $124.00 in a report on Monday, February 10th. Finally, Truist Financial upped their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $132.95.

ConocoPhillips Trading Down 10.2 %

NYSE:COP opened at $95.27 on Friday. The company has a market capitalization of $121.22 billion, a P/E ratio of 12.23, a PEG ratio of 0.79 and a beta of 1.12. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The firm has a fifty day simple moving average of $98.85 and a 200-day simple moving average of $103.27. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, equities research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.27%. ConocoPhillips’s payout ratio is currently 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.