Prudential Financial Inc. Has $216.73 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Prudential Financial Inc. cut its holdings in shares of ConocoPhillips (NYSE:COP) by 9.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,184,569 shares of the energy producer’s stock after selling 215,986 shares during the period. Prudential Financial Inc. owned about 0.18% of ConocoPhillips worth $216,731,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in COP. Moneta Group Investment Advisors LLC boosted its position in ConocoPhillips by 98,832.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock worth $1,012,956,000 after buying an additional 8,575,696 shares during the period. Morgan Stanley lifted its position in shares of ConocoPhillips by 26.6% in the 4th quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock worth $1,964,432,000 after purchasing an additional 3,497,750 shares during the period. Cowa LLC lifted its position in shares of ConocoPhillips by 6,475.2% in the 1st quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock worth $2,383,000 after purchasing an additional 2,339,100 shares during the period. Findlay Park Partners LLP acquired a new position in shares of ConocoPhillips in the 4th quarter worth approximately $207,728,000. Finally, T. Rowe Price Investment Management Inc. acquired a new position in shares of ConocoPhillips in the 4th quarter worth approximately $186,330,000. 80.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded up $3.11 during midday trading on Monday, reaching $122.14. The company had a trading volume of 6,398,200 shares, compared to its average volume of 5,869,895. The company’s 50 day moving average price is $112.24 and its 200 day moving average price is $106.02. The company has a current ratio of 1.41, a quick ratio of 1.28 and a debt-to-equity ratio of 0.33. The stock has a market cap of $146.26 billion, a P/E ratio of 11.77, a P/E/G ratio of 0.76 and a beta of 1.30. ConocoPhillips has a 52-week low of $91.53 and a 52-week high of $138.49.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 3rd. The energy producer reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.10). The company had revenue of $12.88 billion during the quarter, compared to analysts’ expectations of $14.64 billion. ConocoPhillips had a return on equity of 27.27% and a net margin of 18.66%. During the same period last year, the firm posted $3.91 earnings per share. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.87 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Wednesday, August 16th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Wednesday, September 27th. ConocoPhillips’s dividend payout ratio (DPR) is currently 19.65%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COP. Royal Bank of Canada restated an “outperform” rating and issued a $130.00 price target on shares of ConocoPhillips in a research report on Monday, August 14th. Wells Fargo & Company boosted their price target on shares of ConocoPhillips from $134.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. UBS Group boosted their price target on shares of ConocoPhillips from $127.00 to $147.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Jefferies Financial Group dropped their price target on shares of ConocoPhillips from $143.00 to $141.00 and set a “buy” rating on the stock in a research report on Monday, August 28th. Finally, Truist Financial lifted their price objective on shares of ConocoPhillips from $148.00 to $151.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $134.42.

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 and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.