VectorGlobal IAG Inc. Purchases Shares of 8,300 ConocoPhillips $COP

VectorGlobal IAG Inc. purchased a new stake in shares of ConocoPhillips (NYSE:COP) in the 1st quarter, Holdings Channel.com reports. The fund purchased 8,300 shares of the energy producer’s stock, valued at approximately $1,096,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in ConocoPhillips by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer’s stock valued at $11,256,713,000 after purchasing an additional 408,304 shares during the period. Capital International Investors raised its position in ConocoPhillips by 5.9% during the 4th quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock worth $4,527,230,000 after purchasing an additional 2,714,663 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in ConocoPhillips by 6.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock worth $3,880,151,000 after buying an additional 2,350,645 shares during the period. Franklin Resources Inc. grew its position in shares of ConocoPhillips by 4.5% in the 4th quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer’s stock valued at $1,407,770,000 after buying an additional 648,432 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of ConocoPhillips by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer’s stock valued at $1,389,862,000 after buying an additional 193,401 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the subject of several recent research reports. Piper Sandler increased their price target on ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Capital One Financial reduced their target price on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a report on Monday, May 18th. Scotiabank upped their target price on ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Wolfe Research increased their target price on shares of ConocoPhillips from $138.00 to $144.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Finally, Susquehanna raised their price target on shares of ConocoPhillips from $152.00 to $155.00 and gave the stock a “positive” rating in a report on Tuesday, July 21st. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $134.16.

ConocoPhillips Stock Performance

COP stock opened at $120.57 on Monday. The stock has a 50-day moving average price of $112.98 and a 200-day moving average price of $115.07. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.87. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The firm has a market cap of $146.89 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 1.45 and a beta of 0.12.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company had revenue of $15.76 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the previous year, the business earned $2.09 EPS. The firm’s revenue was down 6.1% compared to the same quarter last year. As a group, equities research analysts expect that ConocoPhillips will post 9.2 earnings per share for the current year.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.