Martingale Asset Management L P Has $2.78 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Martingale Asset Management L P grew its position in ConocoPhillips (NYSE:COP) by 258.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 28,052 shares of the energy producer’s stock after buying an additional 20,216 shares during the period. Martingale Asset Management L P’s holdings in ConocoPhillips were worth $2,782,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Advisory Services Network LLC increased its position in ConocoPhillips by 0.6% in the fourth quarter. Advisory Services Network LLC now owns 117,828 shares of the energy producer’s stock worth $11,685,000 after purchasing an additional 746 shares during the period. Applied Finance Capital Management LLC grew its position in shares of ConocoPhillips by 1.6% during the 4th quarter. Applied Finance Capital Management LLC now owns 228,503 shares of the energy producer’s stock worth $22,661,000 after buying an additional 3,608 shares during the period. Renaissance Group LLC bought a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $281,000. Bank of Nova Scotia lifted its holdings in ConocoPhillips by 201.0% in the fourth quarter. Bank of Nova Scotia now owns 909,684 shares of the energy producer’s stock valued at $90,224,000 after buying an additional 607,475 shares during the period. Finally, Shelton Capital Management boosted its stake in ConocoPhillips by 0.9% in the fourth quarter. Shelton Capital Management now owns 76,873 shares of the energy producer’s stock valued at $7,624,000 after acquiring an additional 683 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 9.2 %

COP stock opened at $83.11 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 capitalization of $105.06 billion, a P/E ratio of 10.67, a P/E/G ratio of 0.79 and a beta of 0.83. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $135.18. The business has a 50-day moving average of $96.80 and a 200-day moving average of $102.17.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results 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%. On average, sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is currently 40.05%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on COP shares. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price target for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Truist Financial raised their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a research report on Thursday, January 30th. Piper Sandler cut their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Finally, Barclays decreased their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $131.84.

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.