Assenagon Asset Management S.A. increased its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 401.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,423,611 shares of the energy producer's stock after acquiring an additional 3,541,504 shares during the period. ConocoPhillips comprises about 0.7% of Assenagon Asset Management S.A.'s portfolio, making the stock its 16th biggest position. Assenagon Asset Management S.A. owned about 0.38% of ConocoPhillips worth $438,690,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp lifted its holdings in shares of ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer's stock worth $7,046,263,000 after purchasing an additional 10,663,093 shares during the period. Wellington Management Group LLP raised its position in ConocoPhillips by 20.2% during the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer's stock worth $3,280,725,000 after purchasing an additional 5,240,016 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in ConocoPhillips by 59.7% during the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer's stock worth $1,311,369,000 after buying an additional 4,656,040 shares during the period. Pacer Advisors Inc. grew its position in shares of ConocoPhillips by 5,422.3% in the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer's stock valued at $482,996,000 after buying an additional 4,504,653 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of ConocoPhillips by 12.5% in the third quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer's stock valued at $1,469,163,000 after buying an additional 1,506,599 shares during the period. Institutional investors and hedge funds own 82.36% of the company's stock.
In related news, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now owns 21,500 shares of the company's stock, valued at $2,061,205. This represents a 13.16 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R A. Walker acquired 10,400 shares of the business's stock in a transaction on Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company's stock.
NYSE COP opened at $104.83 on Wednesday. The company has a market cap of $120.65 billion, a P/E ratio of 12.46, a PEG ratio of 0.83 and a beta of 1.19. The company has a fifty day simple moving average of $104.21 and a 200 day simple moving average of $107.56. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18.
ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion during the quarter, compared to analysts' expectations of $13.97 billion. During the same period last year, the company earned $2.16 earnings per share. The business's revenue was down 8.5% on a year-over-year basis. Sell-side analysts predict that ConocoPhillips will post 7.77 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a dividend of $0.78 per share. This is a positive change from ConocoPhillips's previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Friday, November 8th. ConocoPhillips's payout ratio is currently 37.10%.
Several analysts recently commented on the company. Susquehanna upped their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a "positive" rating in a report on Friday, November 1st. Scotiabank reduced their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 10th. UBS Group decreased their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, September 18th. BMO Capital Markets upped their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an "outperform" rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company lowered their price objective on ConocoPhillips from $134.00 to $132.00 and set an "overweight" rating for the company in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $136.65.
Read Our Latest Stock Analysis on 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.
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