Wellington Management Group LLP Purchases 11,002 Shares of ConocoPhillips (NYSE:COP)

Wellington Management Group LLP lifted its position in ConocoPhillips (NYSE:COP) by 0.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,172,899 shares of the energy producer’s stock after purchasing an additional 11,002 shares during the quarter. Wellington Management Group LLP owned 2.45% of ConocoPhillips worth $3,091,416,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of COP. Orrstown Financial Services Inc. boosted its stake in shares of ConocoPhillips by 3.0% in the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock valued at $331,000 after purchasing an additional 96 shares in the last quarter. Principle Wealth Partners LLC boosted its position in ConocoPhillips by 0.3% during the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock valued at $3,695,000 after buying an additional 100 shares during the period. Arlington Trust Co LLC boosted its position in ConocoPhillips by 1.2% during the fourth quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock valued at $857,000 after buying an additional 102 shares during the period. Courier Capital LLC grew its stake in shares of ConocoPhillips by 0.5% during the fourth quarter. Courier Capital LLC now owns 20,481 shares of the energy producer’s stock valued at $2,031,000 after buying an additional 103 shares during the last quarter. Finally, Gray Wealth Management Inc. increased its holdings in shares of ConocoPhillips by 5.0% in the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock worth $215,000 after buying an additional 104 shares during the period. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

NYSE:COP opened at $102.37 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The stock’s fifty day moving average is $98.95 and its 200 day moving average is $103.28. The firm has a market capitalization of $130.26 billion, a PE ratio of 13.14, a PEG ratio of 0.79 and a beta of 1.12. ConocoPhillips has a fifty-two week low of $86.81 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping 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%. On average, sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.05%. ConocoPhillips’s payout ratio is 40.05%.

Wall Street Analyst Weigh In

A number of research analysts have commented on COP shares. Wells Fargo & Company lowered their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Truist Financial upped their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Morgan Stanley decreased their price objective on shares of ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Barclays cut their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.95.

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.