Gifford Fong Associates Acquires 25,281 Shares of ConocoPhillips (NYSE:COP)

Gifford Fong Associates grew its holdings in shares of ConocoPhillips (NYSE:COP) by 158.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,281 shares of the energy producer’s stock after acquiring an additional 25,281 shares during the quarter. ConocoPhillips comprises 1.0% of Gifford Fong Associates’ investment portfolio, making the stock its 28th largest position. Gifford Fong Associates’ holdings in ConocoPhillips were worth $4,094,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Albion Financial Group UT lifted its stake in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in ConocoPhillips in the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC purchased a new stake in ConocoPhillips in the fourth quarter worth approximately $27,000. Crowley Wealth Management Inc. bought a new position in ConocoPhillips during the fourth quarter valued at approximately $32,000. Finally, Marshall Investment Management LLC purchased a new position in shares of ConocoPhillips during the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP opened at $102.37 on Monday. 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 $130.26 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The stock has a fifty day simple moving average of $98.95 and a two-hundred day simple moving average of $103.28. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.05%. ConocoPhillips’s payout ratio is currently 40.05%.

Wall Street Analyst Weigh In

COP has been the topic of several recent research reports. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a report on Thursday, January 30th. TD Cowen began coverage on ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective on the stock. Raymond James cut ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $157.00 to $124.00 in a report on Monday, February 10th. Piper Sandler decreased their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Barclays dropped their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $132.95.

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.