Ilmarinen Mutual Pension Insurance Co purchased a new stake in shares of ConocoPhillips (NYSE:COP – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 210,000 shares of the energy producer’s stock, valued at approximately $19,658,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Duncan Williams Asset Management LLC lifted its holdings in shares of ConocoPhillips by 4.4% during the fourth quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer’s stock valued at $222,000 after purchasing an additional 100 shares in the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of ConocoPhillips by 4.1% during the fourth quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock valued at $241,000 after purchasing an additional 101 shares in the last quarter. Strategic Blueprint LLC lifted its holdings in shares of ConocoPhillips by 1.3% during the fourth quarter. Strategic Blueprint LLC now owns 8,018 shares of the energy producer’s stock valued at $751,000 after purchasing an additional 101 shares in the last quarter. Chesapeake Wealth Management lifted its holdings in shares of ConocoPhillips by 1.5% during the fourth quarter. Chesapeake Wealth Management now owns 7,160 shares of the energy producer’s stock valued at $670,000 after purchasing an additional 103 shares in the last quarter. Finally, Oregon Pacific Wealth Management LLC lifted its holdings in shares of ConocoPhillips by 4.5% during the fourth quarter. Oregon Pacific Wealth Management LLC now owns 2,414 shares of the energy producer’s stock valued at $226,000 after purchasing an additional 104 shares in the last quarter. 82.36% of the stock is owned by institutional investors.
Analysts Set New Price Targets
COP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on ConocoPhillips from $98.00 to $103.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Piper Sandler upped their price objective on ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Susquehanna upped their price objective on ConocoPhillips from $149.00 to $152.00 in a research report on Friday, May 1st. Zacks Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Finally, Freedom Capital cut ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $134.60.
Insider Activity
In related news, SVP Kelly Brunetti Rose sold 7,700 shares of the firm’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the completion of the transaction, the senior vice president directly owned 25,284 shares of the company’s stock, valued at approximately $3,287,678.52. This trade represents a 23.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Andrew D. Lundquist sold 34,500 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the transaction, the senior vice president directly owned 17,469 shares of the company’s stock, valued at $2,090,689.92. The trade was a 66.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 734,891 shares of company stock valued at $93,345,692 in the last three months. 0.09% of the stock is currently owned by insiders.
ConocoPhillips Stock Down 0.2%
ConocoPhillips stock opened at $114.89 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The stock has a fifty day moving average of $123.29 and a 200 day moving average of $108.42. The stock has a market cap of $139.97 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.29 and a beta of 0.14. ConocoPhillips has a one year low of $84.33 and a one year high of $135.87.
ConocoPhillips (NYSE:COP – Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The business had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.09 earnings per share. As a group, sell-side analysts predict that ConocoPhillips will post 9.92 EPS for the current year.
ConocoPhillips Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 11th will be given a dividend of $0.84 per share. The ex-dividend date is Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. ConocoPhillips’s dividend payout ratio (DPR) is currently 57.05%.
About ConocoPhillips
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.
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