Van ECK Associates Corp Sells 11,770 Shares of ConocoPhillips (NYSE:COP)

Van ECK Associates Corp lessened its holdings in ConocoPhillips (NYSE:COPFree Report) by 4.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 233,570 shares of the energy producer’s stock after selling 11,770 shares during the period. Van ECK Associates Corp’s holdings in ConocoPhillips were worth $23,163,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of ConocoPhillips by 19.0% during the third 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 during the last quarter. Wellington Management Group LLP grew its holdings in shares of 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 purchasing an additional 5,240,016 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of ConocoPhillips by 59.7% during the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock worth $1,311,369,000 after purchasing an additional 4,656,040 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of ConocoPhillips by 5,422.3% during the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after purchasing an additional 4,504,653 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of ConocoPhillips by 401.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock worth $438,690,000 after purchasing an additional 3,541,504 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on COP shares. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Wells Fargo & Company cut their price objective on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Truist Financial lifted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Finally, Susquehanna lifted their price objective on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Two 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $133.56.

Check Out Our Latest Stock Report on COP

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $96.39 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The stock’s 50 day moving average is $100.58 and its 200-day moving average is $105.85. The firm has a market capitalization of $110.93 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 0.77 and a beta of 1.18.

ConocoPhillips (NYSE:COPGet Free Report) last issued its earnings results 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 return on equity of 17.26% and a net margin of 16.23%. Sell-side analysts forecast that ConocoPhillips will post 8.3 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

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 dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.24%. ConocoPhillips’s dividend payout ratio (DPR) is currently 40.05%.

Insider Buying and Selling

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

ConocoPhillips Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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