Invesco Ltd. Acquires 4,211,939 Shares of ConocoPhillips (NYSE:COP)

Invesco Ltd. boosted its holdings in ConocoPhillips (NYSE:COP) by 37.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,570,246 shares of the energy producer’s stock after acquiring an additional 4,211,939 shares during the period. Invesco Ltd.’s holdings in ConocoPhillips were worth $1,544,101,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Albion Financial Group UT boosted its stake 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 in the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in ConocoPhillips during the 4th quarter worth about $26,000. Centricity Wealth Management LLC bought a new position in shares of ConocoPhillips in the 4th quarter worth about $27,000. Crowley Wealth Management Inc. bought a new stake in shares of ConocoPhillips during the 4th quarter valued at about $32,000. Finally, Global Wealth Strategies & Associates grew its stake in ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares during the period. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on COP. 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 report on Monday, February 10th. Barclays decreased their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. TD Cowen started coverage on ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 target price for the company. 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 report on Wednesday, February 12th. Finally, Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $132.00 to $134.00 in a report on Monday, December 16th. 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.95.

ConocoPhillips Stock Down 9.5 %

ConocoPhillips stock opened at $86.18 on Monday. The firm has a 50 day moving average price of $98.53 and a 200-day moving average price of $103.06. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a twelve month low of $81.34 and a twelve month high of $135.18. The company has a market capitalization of $108.95 billion, a P/E ratio of 11.06, a P/E/G ratio of 0.79 and a beta of 0.83.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) 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, equities analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.62%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is currently 40.05%.

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.