Gotham Asset Management LLC Has $29.07 Million Holdings in ConocoPhillips (NYSE:COP)

Gotham Asset Management LLC lifted its position in ConocoPhillips (NYSE:COP) by 31.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 293,090 shares of the energy producer’s stock after purchasing an additional 69,936 shares during the quarter. ConocoPhillips accounts for 0.3% of Gotham Asset Management LLC’s portfolio, making the stock its 24th largest position. Gotham Asset Management LLC’s holdings in ConocoPhillips were worth $29,066,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of ConocoPhillips by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after acquiring an additional 12,751,120 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in ConocoPhillips by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock worth $4,546,706,000 after purchasing an additional 5,549,078 shares during the period. Invesco Ltd. boosted its holdings in ConocoPhillips by 37.1% during the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock valued at $1,544,101,000 after purchasing an additional 4,211,939 shares in the last quarter. Assenagon Asset Management S.A. grew its stake 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 purchasing an additional 3,541,504 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of ConocoPhillips by 13.7% in the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock worth $2,792,521,000 after buying an additional 3,397,360 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

COP has been the topic of several recent analyst reports. TD Cowen began 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. Raymond James lowered shares of 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 report on Monday, February 10th. Bank of America cut shares of ConocoPhillips from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $138.00 to $107.00 in a research note on Tuesday, April 29th. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a research note on Thursday, January 30th. Finally, Truist Financial increased their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $124.89.

ConocoPhillips Stock Down 0.3 %

Shares of NYSE:COP opened at $88.58 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a market cap of $111.98 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 0.79 and a beta of 0.64. The company has a 50 day moving average of $93.08 and a 200-day moving average of $99.44. ConocoPhillips has a one year low of $79.88 and a one year high of $123.98.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The company had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.74 billion. During the same quarter in the previous year, the company posted $2.05 EPS. On average, sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Monday, May 19th. ConocoPhillips’s payout ratio is 39.64%.

About ConocoPhillips

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.