93,419 Shares in ConocoPhillips (NYSE:COP) Purchased by Trexquant Investment LP

Trexquant Investment LP purchased a new stake in shares of ConocoPhillips (NYSE:COP) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 93,419 shares of the energy producer’s stock, valued at approximately $9,264,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bridgewater Associates LP lifted its stake in ConocoPhillips by 58.9% during the 3rd quarter. Bridgewater Associates LP now owns 3,079 shares of the energy producer’s stock valued at $324,000 after acquiring an additional 1,141 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in shares of ConocoPhillips by 489.8% in the third quarter. Benjamin Edwards Inc. now owns 26,711 shares of the energy producer’s stock valued at $2,814,000 after purchasing an additional 22,182 shares during the last quarter. Investment Management Corp of Ontario lifted its position in shares of ConocoPhillips by 47.7% during the third quarter. Investment Management Corp of Ontario now owns 38,710 shares of the energy producer’s stock valued at $4,075,000 after purchasing an additional 12,500 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in ConocoPhillips by 9.9% during the third quarter. Integrated Wealth Concepts LLC now owns 29,896 shares of the energy producer’s stock worth $3,147,000 after purchasing an additional 2,692 shares during the last quarter. Finally, IHT Wealth Management LLC grew its position in ConocoPhillips by 36.4% in the 3rd quarter. IHT Wealth Management LLC now owns 9,276 shares of the energy producer’s stock worth $985,000 after purchasing an additional 2,473 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on COP. Evercore ISI reissued an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a research report on Friday, December 6th. The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a research report on Thursday, January 30th. TD Cowen initiated coverage on ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Finally, Piper Sandler decreased their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Two research 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 stock. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $132.95.

ConocoPhillips Stock Performance

NYSE:COP opened at $106.12 on Thursday. The business’s fifty day moving average is $99.02 and its 200 day moving average is $103.33. The firm has a market cap of $135.02 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 52-week low of $86.81 and a 52-week high of $135.18.

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

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.94%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

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.