ConocoPhillips (NYSE:COP) Shares Purchased by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board boosted its position in shares of ConocoPhillips (NYSE:COP) by 78.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 28,770 shares of the energy producer’s stock after acquiring an additional 12,623 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in ConocoPhillips were worth $2,853,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COP. Orrstown Financial Services Inc. increased its holdings in shares of ConocoPhillips by 3.0% in the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock valued at $331,000 after acquiring an additional 96 shares during the period. Principle Wealth Partners LLC grew its position in ConocoPhillips by 0.3% during the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock worth $3,695,000 after purchasing an additional 100 shares during the last quarter. Arlington Trust Co LLC increased its stake in ConocoPhillips by 1.2% in the fourth quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock valued at $857,000 after purchasing an additional 102 shares during the period. Courier Capital LLC raised its holdings in shares of ConocoPhillips by 0.5% in the fourth quarter. Courier Capital LLC now owns 20,481 shares of the energy producer’s stock valued at $2,031,000 after buying an additional 103 shares during the last quarter. Finally, Gray Wealth Management Inc. boosted its stake in shares of ConocoPhillips by 5.0% during the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock worth $215,000 after buying an additional 104 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.1 %

Shares of COP stock opened at $86.32 on Tuesday. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $132.61. 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 fifty day simple moving average of $96.24 and a 200-day simple moving average of $101.91. The stock has a market cap of $109.12 billion, a P/E ratio of 11.08, a P/E/G ratio of 0.79 and a beta of 0.83.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Wall Street Analysts Forecast Growth

COP has been the subject of several analyst reports. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $157.00 to $124.00 in a research note on Monday, February 10th. The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a research note on Thursday, January 30th. Morgan Stanley dropped their price objective on shares of ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Barclays reduced their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Finally, Piper Sandler dropped their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.74.

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.