Brown Advisory Inc. Sells 29,624 Shares of ConocoPhillips (NYSE:COP)

Brown Advisory Inc. trimmed its stake in ConocoPhillips (NYSE:COP) by 20.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 115,787 shares of the energy producer’s stock after selling 29,624 shares during the period. Brown Advisory Inc.’s holdings in ConocoPhillips were worth $11,483,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in ConocoPhillips by 11.7% in the fourth 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 during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of ConocoPhillips by 13.8% in 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 during the last quarter. Capital International Investors boosted its stake in shares of ConocoPhillips by 4.9% during the 4th 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 grew its holdings in ConocoPhillips by 13.7% during the 4th 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 position in ConocoPhillips by 37.1% in the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock worth $1,544,101,000 after purchasing an additional 4,211,939 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 0.1 %

Shares of NYSE COP opened at $87.74 on Wednesday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $124.94. The business has a fifty day moving average price of $93.42 and a 200 day moving average price of $99.74. The stock has a market capitalization of $110.91 billion, a P/E ratio of 11.26, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. 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 (NYSE:COP) last released its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share 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%. Equities research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.56%. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Analysts Set New Price Targets

Several brokerages have issued reports on COP. Bank of America lowered ConocoPhillips from a “buy” rating to a “neutral” rating and dropped their target price for the company from $138.00 to $107.00 in a research report on Tuesday, April 29th. Susquehanna set a $136.00 price objective on ConocoPhillips in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $157.00 to $124.00 in a research note on Monday, February 10th. Finally, Truist Financial raised their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $124.79.

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.