IFM Investors Pty Ltd Has $37.12 Million Stock Position in ConocoPhillips $COP

IFM Investors Pty Ltd lifted its position in shares of ConocoPhillips (NYSE:COP) by 6.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 281,218 shares of the energy producer’s stock after acquiring an additional 17,370 shares during the quarter. IFM Investors Pty Ltd’s holdings in ConocoPhillips were worth $37,121,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in ConocoPhillips in the fourth quarter valued at about $25,000. KERR FINANCIAL PLANNING Corp acquired a new position in ConocoPhillips during the 3rd quarter valued at about $28,000. Board of the Pension Protection Fund bought a new position in shares of ConocoPhillips in the 4th quarter valued at about $28,000. Strive Asset Management LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $28,000. Finally, BNP Paribas bought a new stake in shares of ConocoPhillips during the second quarter worth approximately $33,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on COP. Sanford C. Bernstein raised their price objective on shares of ConocoPhillips from $98.00 to $121.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Piper Sandler increased their price target on ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Weiss Ratings restated a “hold (c)” rating on shares of ConocoPhillips in a research report on Wednesday, June 3rd. Scotiabank lifted their price objective on ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Finally, Raymond James Financial dropped their price objective on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a report on Monday, June 1st. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.76.

ConocoPhillips Trading Down 0.4%

Shares of NYSE COP opened at $103.76 on Wednesday. The company’s fifty day moving average is $116.70 and its 200-day moving average is $112.07. The stock has a market cap of $126.41 billion, a price-to-earnings ratio of 17.62, a P/E/G ratio of 1.20 and a beta of 0.11. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the previous year, the business earned $2.09 EPS. The firm’s revenue was down 6.1% on a year-over-year basis. Equities research analysts predict that ConocoPhillips will post 9.66 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s payout ratio is presently 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.