ConocoPhillips $COP Shares Acquired by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp increased its holdings in ConocoPhillips (NYSE:COP) by 23.9% in the first quarter, Holdings Channel.com reports. The firm owned 68,400 shares of the energy producer’s stock after purchasing an additional 13,183 shares during the period. OMERS ADMINISTRATION Corp’s holdings in ConocoPhillips were worth $9,029,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. AXA S.A. boosted its position in shares of ConocoPhillips by 91.1% in the second quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock worth $7,622,000 after acquiring an additional 40,499 shares during the last quarter. Sei Investments Co. grew its holdings in ConocoPhillips by 6.1% in the second quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock valued at $70,397,000 after purchasing an additional 44,852 shares during the period. BNP Paribas acquired a new position in ConocoPhillips during the second quarter worth approximately $33,000. Osterweis Capital Management Inc. acquired a new position in ConocoPhillips during the second quarter worth approximately $151,000. Finally, Main Street Financial Solutions LLC raised its stake in ConocoPhillips by 53.5% during the second quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock worth $431,000 after purchasing an additional 1,675 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COP. Citigroup lifted their price target on shares of ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Freedom Capital downgraded ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Barclays increased their target price on ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Piper Sandler lifted their target price on ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Finally, Scotiabank boosted their price target on ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $134.16.

ConocoPhillips Price Performance

COP stock opened at $120.30 on Monday. The firm has a market cap of $146.56 billion, a P/E ratio of 20.42, a price-to-earnings-growth ratio of 1.45 and a beta of 0.12. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The stock has a 50-day simple moving average of $113.50 and a 200-day simple moving average of $114.33.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. The firm had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.ConocoPhillips’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.09 EPS. On average, equities analysts predict that ConocoPhillips will post 9.2 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were paid a dividend of $0.84 per share. The ex-dividend date was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.8%. ConocoPhillips’s dividend payout ratio (DPR) is currently 57.05%.

ConocoPhillips Company 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.