Jacobs Levy Equity Management Inc. Has $2.84 Million Holdings in ConocoPhillips (NYSE:COP)

Jacobs Levy Equity Management Inc. lessened its position in shares of ConocoPhillips (NYSE:COP) by 90.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 28,591 shares of the energy producer’s stock after selling 262,246 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in ConocoPhillips were worth $2,835,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of ConocoPhillips by 13.8% during the 4th 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 buying an additional 5,549,078 shares during the last quarter. Leavell Investment Management Inc. grew its stake in ConocoPhillips by 59.8% in the fourth quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock valued at $1,901,000 after purchasing an additional 7,174 shares in the last quarter. Brookstone Capital Management grew its stake in ConocoPhillips by 4.5% in the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after purchasing an additional 383 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in shares of ConocoPhillips during the 4th quarter worth approximately $1,767,000. Finally, Asset Management One Co. Ltd. raised its stake in shares of ConocoPhillips by 11.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 519,371 shares of the energy producer’s stock worth $50,345,000 after purchasing an additional 54,196 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.3%

NYSE COP opened at $92.86 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company has a market cap of $117.39 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 0.79 and a beta of 0.64. The company has a 50 day moving average of $93.30 and a 200-day moving average of $99.13. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $122.11.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same period in the prior year, the company posted $2.05 EPS. On average, equities research analysts expect 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 will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend is Monday, May 19th. ConocoPhillips’s payout ratio is presently 39.64%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on COP shares. Barclays lowered their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. TD Cowen began 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. Piper Sandler cut their target price on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a research note on Tuesday. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Finally, Wells Fargo & Company dropped their price objective on ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.74.

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.