National Pension Service Raises Stock Position in ConocoPhillips $COP

National Pension Service lifted its position in ConocoPhillips (NYSE:COP) by 22.9% in the second quarter, Holdings Channel reports. The firm owned 3,168,859 shares of the energy producer’s stock after buying an additional 589,836 shares during the period. National Pension Service’s holdings in ConocoPhillips were worth $284,373,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of COP. CWM LLC lifted its holdings in ConocoPhillips by 44.7% during the first quarter. CWM LLC now owns 112,764 shares of the energy producer’s stock worth $11,843,000 after buying an additional 34,853 shares during the period. Florida Financial Advisors LLC increased its holdings in shares of ConocoPhillips by 12.5% in the 1st quarter. Florida Financial Advisors LLC now owns 3,519 shares of the energy producer’s stock valued at $369,000 after acquiring an additional 391 shares during the period. Edgestream Partners L.P. raised its position in shares of ConocoPhillips by 418.6% in the 1st quarter. Edgestream Partners L.P. now owns 31,452 shares of the energy producer’s stock worth $3,303,000 after acquiring an additional 25,387 shares in the last quarter. Signaturefd LLC raised its position in shares of ConocoPhillips by 5.4% in the 1st quarter. Signaturefd LLC now owns 26,544 shares of the energy producer’s stock worth $2,788,000 after acquiring an additional 1,371 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of ConocoPhillips by 326.8% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 364,734 shares of the energy producer’s stock worth $365,000 after purchasing an additional 279,272 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director William H. Mcraven acquired 5,768 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were acquired at an average cost of $86.68 per share, with a total value of $499,970.24. Following the acquisition, the director directly owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.24% of the stock is owned by company insiders.

ConocoPhillips Stock Performance

Shares of COP stock opened at $90.66 on Wednesday. The business has a fifty day moving average of $91.20 and a 200 day moving average of $91.98. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The firm has a market capitalization of $113.23 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. The business had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.78 earnings per share. As a group, research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 3.7%. The ex-dividend date is Monday, November 17th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s dividend payout ratio (DPR) is presently 47.52%.

Wall Street Analysts Forecast Growth

Several research firms have commented on COP. UBS Group decreased their price target on shares of ConocoPhillips from $115.00 to $98.00 in a research report on Tuesday, October 28th. BMO Capital Markets boosted their price objective on shares of ConocoPhillips from $115.00 to $117.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. The Goldman Sachs Group lowered their target price on shares of ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, October 17th. Melius Research initiated coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target on the stock. Finally, Piper Sandler decreased their price objective on ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, October 13th. Eighteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.54.

ConocoPhillips Company 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.