Federated Hermes Inc. Grows Stake in ConocoPhillips (NYSE:COP)

Federated Hermes Inc. lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 0.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 331,975 shares of the energy producer’s stock after acquiring an additional 2,883 shares during the period. Federated Hermes Inc.’s holdings in ConocoPhillips were worth $32,922,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Albion Financial Group UT lifted its position in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after buying an additional 228 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in ConocoPhillips during the 4th quarter worth $26,000. Centricity Wealth Management LLC purchased a new stake in ConocoPhillips in the fourth quarter valued at $27,000. Crowley Wealth Management Inc. acquired a new position in ConocoPhillips in the fourth quarter valued at $32,000. Finally, Global Wealth Strategies & Associates grew its holdings in shares of ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on COP. Truist Financial boosted their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. UBS Group reduced their price objective on ConocoPhillips from $130.00 to $116.00 and set a “buy” rating for the company in a research note on Monday. JPMorgan Chase & Co. lowered their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Piper Sandler reduced their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Morgan Stanley lowered their price objective on shares of ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $131.84.

ConocoPhillips Trading Down 0.6 %

Shares of COP stock opened at $85.74 on Tuesday. The business’s fifty day moving average price is $98.19 and its 200 day moving average price is $102.89. The firm has a market capitalization of $108.38 billion, a PE ratio of 11.01, a P/E/G ratio of 0.79 and a beta of 0.83. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 1-year low of $81.72 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last posted 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 net margin of 16.23% and a return on equity of 17.26%. As a group, sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.64%. ConocoPhillips’s payout ratio is 40.05%.

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.