Voya Financial Advisors Inc. Raises Stock Position in ConocoPhillips (NYSE:COP)

Voya Financial Advisors Inc. lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 5.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,224 shares of the energy producer’s stock after purchasing an additional 678 shares during the quarter. Voya Financial Advisors Inc.’s holdings in ConocoPhillips were worth $1,187,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Morse Asset Management Inc purchased a new stake in shares of ConocoPhillips during the third quarter worth $805,000. Anchor Investment Management LLC increased its stake in shares of ConocoPhillips by 5.5% during the third quarter. Anchor Investment Management LLC now owns 11,322 shares of the energy producer’s stock worth $1,192,000 after buying an additional 589 shares during the period. Fulcrum Equity Management grew its holdings in ConocoPhillips by 24.1% during the 3rd quarter. Fulcrum Equity Management now owns 5,939 shares of the energy producer’s stock worth $625,000 after acquiring an additional 1,155 shares in the last quarter. World Investment Advisors LLC grew its stake in shares of ConocoPhillips by 746.7% during the third quarter. World Investment Advisors LLC now owns 43,928 shares of the energy producer’s stock worth $4,625,000 after purchasing an additional 38,740 shares in the last quarter. Finally, Arvest Bank Trust Division purchased a new position in ConocoPhillips in the third quarter valued at $11,549,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 2.1 %

Shares of COP opened at $91.81 on Friday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $130.77. The firm has a market capitalization of $116.06 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. 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 stock’s fifty day simple moving average is $94.67 and its 200 day simple moving average is $100.80.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS 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, equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s payout ratio is currently 40.05%.

Wall Street Analyst Weigh In

COP has been the topic of a number of recent analyst reports. Truist Financial increased their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. JPMorgan Chase & Co. cut their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. TD Cowen began coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and set a $116.00 price target on shares of ConocoPhillips in a research note on Tuesday, April 15th. Finally, Royal Bank of Canada decreased their price objective on shares of ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.89.

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.