BW Gestao de Investimentos Ltda. Acquires Shares of 75,010 ConocoPhillips (NYSE:COP)

BW Gestao de Investimentos Ltda. bought a new position in shares of ConocoPhillips (NYSE:COP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 75,010 shares of the energy producer’s stock, valued at approximately $7,439,000.

Other institutional investors and hedge funds have also made changes to their positions in 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 worth $12,081,491,000 after buying an additional 12,751,120 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of ConocoPhillips by 13.8% during the fourth 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 during the last quarter. Capital International Investors lifted its stake in shares of ConocoPhillips by 4.9% in the fourth quarter. Capital International Investors now owns 31,287,113 shares of the energy producer’s stock worth $3,101,989,000 after acquiring an additional 1,473,027 shares in the last quarter. Geode Capital Management LLC boosted its holdings in ConocoPhillips by 13.7% in 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. grew its stake in ConocoPhillips by 37.1% during the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock valued at $1,544,101,000 after purchasing an additional 4,211,939 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on COP. TD Cowen assumed coverage on ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 target price on the stock. Royal Bank of Canada reduced their price objective on shares of ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Susquehanna set a $136.00 target price on shares of ConocoPhillips in a research report on Tuesday, April 22nd. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Finally, Truist Financial boosted 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. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $124.79.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $91.46 on Friday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $125.22. The firm has a market capitalization of $115.62 billion, a P/E ratio of 11.74, a PEG ratio of 0.79 and a beta of 0.83. The firm’s 50 day moving average is $93.78 and its two-hundred day moving average is $100.00. 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 earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping 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%. Analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current 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 dividend on an annualized basis and a yield of 3.41%. ConocoPhillips’s dividend payout ratio is currently 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.