United Services Automobile Association Buys 2,528 Shares of ConocoPhillips (NYSE:COP)

United Services Automobile Association grew its position in ConocoPhillips (NYSE:COP) by 1.6% in the fourth quarter, Holdings Channel reports. The fund owned 162,762 shares of the energy producer’s stock after acquiring an additional 2,528 shares during the quarter. United Services Automobile Association’s holdings in ConocoPhillips were worth $16,141,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of COP. Vanguard Group Inc. lifted its holdings in ConocoPhillips by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock worth $12,081,491,000 after buying an additional 12,751,120 shares during the period. State Street Corp lifted its stake in shares of ConocoPhillips by 19.0% in the third 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 boosted its holdings in ConocoPhillips by 20.2% in the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after acquiring an additional 5,240,016 shares during the last quarter. Fisher Asset Management LLC increased its position in ConocoPhillips by 59.7% during the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after purchasing an additional 4,656,040 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in ConocoPhillips by 401.5% during the 4th 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 and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on COP. Wells Fargo & Company decreased their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Evercore ISI reissued an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. UBS Group decreased their target price on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Finally, TD Cowen initiated coverage on ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price target on the stock. Two investment 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.05.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $102.05 on Monday. The stock has a market cap of $129.84 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a fifty-two week low of $86.81 and a fifty-two week high of $135.18. The firm’s 50-day simple moving average is $99.21 and its 200 day simple moving average is $103.37.

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

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.06%. 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.