ConocoPhillips (NYSE:COP) Shares Bought by Adams Natural Resources Fund Inc.

Adams Natural Resources Fund Inc. increased its holdings in shares of ConocoPhillips (NYSE:COP) by 16.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 408,703 shares of the energy producer’s stock after buying an additional 59,127 shares during the quarter. ConocoPhillips accounts for approximately 6.4% of Adams Natural Resources Fund Inc.’s holdings, making the stock its 3rd largest holding. Adams Natural Resources Fund Inc.’s holdings in ConocoPhillips were worth $40,531,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Sciencast Management LP grew its position in shares of ConocoPhillips by 56.1% in the 4th quarter. Sciencast Management LP now owns 30,667 shares of the energy producer’s stock valued at $3,041,000 after purchasing an additional 11,027 shares during the period. Millstone Evans Group LLC acquired a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $134,000. Wayfinding Financial LLC bought a new stake in shares of ConocoPhillips during the fourth quarter worth $282,000. TD Private Client Wealth LLC raised its holdings in shares of ConocoPhillips by 12.5% during the fourth quarter. TD Private Client Wealth LLC now owns 21,692 shares of the energy producer’s stock worth $2,151,000 after acquiring an additional 2,418 shares during the period. Finally, Lee Danner & Bass Inc. lifted its position in ConocoPhillips by 9.8% in the 4th quarter. Lee Danner & Bass Inc. now owns 6,289 shares of the energy producer’s stock valued at $624,000 after acquiring an additional 563 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

COP has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $157.00 to $124.00 in a research report on Monday, February 10th. Piper Sandler reduced their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Morgan Stanley initiated coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They set an “overweight” rating and a $128.00 price target for the company. Finally, The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, seventeen 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 currently has an average rating of “Moderate Buy” and an average target price of $133.05.

ConocoPhillips Stock Performance

NYSE:COP opened at $102.05 on Friday. The stock has a 50 day simple moving average of $99.21 and a 200 day simple moving average of $103.45. The stock has a market cap of $129.84 billion, a P/E ratio of 13.10, a PEG ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 1-year low of $86.81 and a 1-year high of $135.18. 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 earnings per share (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%. Research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.06%. ConocoPhillips’s dividend payout ratio is presently 40.05%.

ConocoPhillips 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.