Renaissance Technologies LLC Has $80.37 Million Stake in ConocoPhillips (NYSE:COP)

Renaissance Technologies LLC trimmed its position in ConocoPhillips (NYSE:COP - Free Report) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 810,461 shares of the energy producer's stock after selling 11,347 shares during the quarter. Renaissance Technologies LLC owned about 0.07% of ConocoPhillips worth $80,373,000 as of its most recent filing with the Securities and Exchange Commission.

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A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of Nova Scotia boosted its position in shares of ConocoPhillips by 201.0% in the fourth quarter. Bank of Nova Scotia now owns 909,684 shares of the energy producer's stock valued at $90,224,000 after acquiring an additional 607,475 shares during the period. Shelton Capital Management increased its stake in ConocoPhillips by 0.9% in the fourth quarter. Shelton Capital Management now owns 76,873 shares of the energy producer's stock valued at $7,624,000 after acquiring an additional 683 shares during the period. Canopy Partners LLC raised its holdings in shares of ConocoPhillips by 9.0% in the 4th quarter. Canopy Partners LLC now owns 8,174 shares of the energy producer's stock worth $811,000 after buying an additional 674 shares in the last quarter. Invesco Ltd. raised its stake in ConocoPhillips by 37.1% during the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock worth $1,544,101,000 after acquiring an additional 4,211,939 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in ConocoPhillips by 5.8% during the 4th quarter. Bank of Montreal Can now owns 1,839,758 shares of the energy producer's stock valued at $182,449,000 after purchasing an additional 100,593 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on COP. Piper Sandler cut their price objective on ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Barclays decreased their price objective on ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Wells Fargo & Company lowered their target price on shares of ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. UBS Group decreased their price target on shares of ConocoPhillips from $130.00 to $116.00 and set a "buy" rating for the company in a report on Monday. Finally, Raymond James downgraded ConocoPhillips from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the stock from $157.00 to $124.00 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $131.84.

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Get Our Latest Stock Analysis on ConocoPhillips

ConocoPhillips Stock Down 3.6 %

COP stock opened at $82.58 on Wednesday. ConocoPhillips has a twelve month low of $81.04 and a twelve month high of $135.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average price of $97.44 and a two-hundred day moving average price of $102.55. The company has a market cap of $104.40 billion, a price-to-earnings ratio of 10.60, a P/E/G ratio of 0.79 and a beta of 0.83.

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ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results 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 return on equity of 17.26% and a net margin of 16.23%. Analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared 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 of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.78%. ConocoPhillips's dividend payout ratio is currently 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.

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