Rodgers Brothers Inc. Grows Position in ConocoPhillips (NYSE:COP)

Rodgers Brothers Inc. grew its stake in ConocoPhillips (NYSE:COP) by 25.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,449 shares of the energy producer’s stock after buying an additional 1,529 shares during the period. Rodgers Brothers Inc.’s holdings in ConocoPhillips were worth $739,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position 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 acquiring an additional 12,751,120 shares during the period. State Street Corp boosted its position in ConocoPhillips by 19.0% in the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after buying an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP raised its position 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 buying an additional 5,240,016 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of ConocoPhillips by 401.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock valued at $438,690,000 after acquiring an additional 3,541,504 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of ConocoPhillips in the fourth quarter worth $232,859,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 0.4 %

COP stock opened at $102.37 on Monday. The company has a market cap of $130.26 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 0.79 and a beta of 1.12. The firm has a 50-day moving average of $98.95 and a two-hundred day moving average of $103.28. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18. 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 (NYSE:COP) last released its quarterly earnings data 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%. As a group, analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Analyst Ratings Changes

Several research firms have commented on COP. Truist Financial upped their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Piper Sandler reduced their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. TD Cowen assumed coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price objective on the stock. Finally, Wells Fargo & Company decreased their target price on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Two equities research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $132.95.

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.