Cetera Investment Advisers Purchases 7,260 Shares of ConocoPhillips (NYSE:COP)

Cetera Investment Advisers boosted its position in shares of ConocoPhillips (NYSE:COP) by 2.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 327,974 shares of the energy producer’s stock after purchasing an additional 7,260 shares during the quarter. Cetera Investment Advisers’ holdings in ConocoPhillips were worth $32,525,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in COP. Vanguard Group Inc. boosted its stake in ConocoPhillips by 11.7% in the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after acquiring an additional 12,751,120 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of ConocoPhillips by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock valued at $4,546,706,000 after purchasing an additional 5,549,078 shares during the period. Invesco Ltd. boosted its position in shares of ConocoPhillips by 37.1% in the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock worth $1,544,101,000 after purchasing an additional 4,211,939 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in ConocoPhillips by 401.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock valued at $438,690,000 after purchasing an additional 3,541,504 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock valued at $2,792,521,000 after buying an additional 3,397,360 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COP has been the subject of a number of recent analyst reports. Truist Financial upped their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. TD Cowen initiated coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 target price for the company. Susquehanna set a $136.00 price target on shares of ConocoPhillips in a research report on Tuesday, April 22nd. Scotiabank lowered their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a research report on Friday, April 11th. Finally, Wells Fargo & Company reduced their target price on ConocoPhillips from $131.00 to $116.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.79.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $87.68 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The business has a 50-day moving average of $93.19 and a 200-day moving average of $99.66. The stock has a market capitalization of $110.84 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 0.79 and a beta of 0.64. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $124.23.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating 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%. As a group, sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

About 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.