American Century Companies Inc. Has $135.84 Million Position in ConocoPhillips (NYSE:COP)

American Century Companies Inc. cut its position in shares of ConocoPhillips (NYSE:COP) by 26.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,369,775 shares of the energy producer’s stock after selling 504,906 shares during the quarter. American Century Companies Inc.’s holdings in ConocoPhillips were worth $135,841,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Albion Financial Group UT increased its position in shares of ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares during the period. Centricity Wealth Management LLC bought a new stake in ConocoPhillips in the 4th quarter valued at $27,000. Truvestments Capital LLC bought a new stake in ConocoPhillips in the 3rd quarter valued at $31,000. Global Wealth Strategies & Associates raised its stake in shares of ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after buying an additional 153 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of ConocoPhillips during the 3rd quarter worth about $35,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $102.05 on Monday. The stock has a market capitalization of $129.84 billion, a P/E ratio of 13.10, a P/E/G 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. ConocoPhillips has a 1-year low of $86.81 and a 1-year high of $135.18. The business has a 50-day moving average price of $99.21 and a two-hundred day moving average price of $103.37.

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 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%. Equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.06%. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. UBS Group cut their target price on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Truist Financial upped their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Morgan Stanley began coverage on ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective for the company. Finally, Barclays lowered their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $133.05.

ConocoPhillips 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.