Oslo Pensjonsforsikring AS Purchases Shares of 5,930 ConocoPhillips $COP

Oslo Pensjonsforsikring AS purchased a new stake in shares of ConocoPhillips (NYSE:COP) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,930 shares of the energy producer’s stock, valued at approximately $783,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in COP. Baader Bank Aktiengesellschaft bought a new stake in ConocoPhillips during the 1st quarter valued at $545,000. Summit Asset Management LLC acquired a new position in shares of ConocoPhillips during the first quarter valued at $288,000. Wilkerson Advisory Group LLC increased its holdings in shares of ConocoPhillips by 19.0% during the first quarter. Wilkerson Advisory Group LLC now owns 797 shares of the energy producer’s stock valued at $105,000 after purchasing an additional 127 shares during the period. Madison Asset Management LLC raised its stake in shares of ConocoPhillips by 79.7% during the first quarter. Madison Asset Management LLC now owns 210,608 shares of the energy producer’s stock valued at $27,800,000 after purchasing an additional 93,408 shares in the last quarter. Finally, Cutler Investment Counsel LLC bought a new stake in shares of ConocoPhillips during the first quarter valued at about $230,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Up 1.5%

Shares of COP stock opened at $117.40 on Wednesday. The stock has a 50-day simple moving average of $113.48 and a 200 day simple moving average of $113.84. The stock has a market capitalization of $143.03 billion, a P/E ratio of 19.93, a P/E/G ratio of 1.40 and a beta of 0.12. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week 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 issued its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $15.62 billion. During the same period in the prior year, the company earned $2.09 EPS. ConocoPhillips’s revenue was down 6.1% on a year-over-year basis. On average, sell-side analysts expect that ConocoPhillips will post 9.2 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were given a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a yield of 2.9%. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on COP shares. Piper Sandler increased their target price on shares of ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Barclays boosted their price target on shares of ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Raymond James Financial reduced their price target on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a research note on Monday, June 1st. Citigroup increased their price objective on shares of ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Finally, Royal Bank Of Canada set a $130.00 price objective on shares of ConocoPhillips in a research note on Monday, June 22nd. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $134.16.

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.