ConocoPhillips (NYSE:COP) Position Raised by Wahed Invest LLC

Wahed Invest LLC raised its position in shares of ConocoPhillips (NYSE:COP) by 14.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,641 shares of the energy producer’s stock after purchasing an additional 4,178 shares during the quarter. Wahed Invest LLC’s holdings in ConocoPhillips were worth $3,237,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in ConocoPhillips by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after acquiring an additional 12,751,120 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock worth $4,546,706,000 after acquiring an additional 5,549,078 shares in the last quarter. Capital International Investors raised its position in shares of ConocoPhillips by 4.9% during the fourth quarter. Capital International Investors now owns 31,287,113 shares of the energy producer’s stock worth $3,101,989,000 after purchasing an additional 1,473,027 shares during the period. Geode Capital Management LLC lifted its holdings in shares of ConocoPhillips by 13.7% during the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock valued at $2,792,521,000 after purchasing an additional 3,397,360 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in ConocoPhillips by 37.1% during the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock worth $1,544,101,000 after buying an additional 4,211,939 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on COP. Bank of America lowered shares of ConocoPhillips from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $138.00 to $107.00 in a research note on Tuesday. Susquehanna set a $136.00 price target on ConocoPhillips in a report on Tuesday, April 22nd. Scotiabank reduced their price objective on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Barclays lowered their target price on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $124.79.

ConocoPhillips Trading Up 1.8 %

Shares of COP stock opened at $90.71 on Friday. The firm has a market capitalization of $114.67 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $125.22. The firm’s fifty day simple moving average is $93.89 and its 200 day simple moving average is $100.13. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 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%. As a group, sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid 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 yield of 3.44%. ConocoPhillips’s dividend payout ratio is currently 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.