Olympiad Research LP Makes New Investment in ConocoPhillips $COP

Olympiad Research LP bought a new stake in shares of ConocoPhillips (NYSE:COP) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,972 shares of the energy producer’s stock, valued at approximately $267,000.

Several other institutional investors have also made changes to their positions in COP. Charles Schwab Investment Management Inc. increased its stake in ConocoPhillips by 379.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after buying an additional 31,736,423 shares during the period. Nuveen LLC purchased a new position in shares of ConocoPhillips during the 1st quarter valued at $658,981,000. AQR Capital Management LLC grew its holdings in shares of ConocoPhillips by 190.5% during the 1st quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock valued at $484,539,000 after acquiring an additional 3,058,505 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of ConocoPhillips by 30.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after acquiring an additional 2,080,625 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of ConocoPhillips by 53.8% during the first quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer’s stock worth $550,334,000 after acquiring an additional 1,834,118 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of recent research reports. UBS Group cut their price target on ConocoPhillips from $122.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday. Roth Capital dropped their price objective on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Jefferies Financial Group decreased their target price on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Weiss Ratings raised shares of ConocoPhillips from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, November 7th. Finally, Piper Sandler lowered their target price on shares of ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, October 13th. Eighteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.33.

Insider Buying and Selling

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 stock was bought at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the purchase, the director owned 5,768 shares in the company, valued at $499,970.24. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.24% of the stock is currently owned by company insiders.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $89.38 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $90.96 and its two-hundred day moving average is $91.94. The company has a market cap of $110.45 billion, a P/E ratio of 12.00, a P/E/G ratio of 2.36 and a beta of 0.58. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38.

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

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a $0.84 dividend. The ex-dividend date is Monday, November 17th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.8%. ConocoPhillips’s dividend payout ratio is currently 47.52%.

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.