ConocoPhillips (NYSE:COP) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board raised its stake in shares of ConocoPhillips (NYSE:COPFree Report) by 568.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 116,755 shares of the energy producer’s stock after acquiring an additional 99,300 shares during the quarter. Canada Pension Plan Investment Board’s holdings in ConocoPhillips were worth $13,987,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in COP. Moneta Group Investment Advisors LLC lifted its holdings in ConocoPhillips by 98,832.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock valued at $1,012,956,000 after purchasing an additional 8,575,696 shares in the last quarter. Morgan Stanley lifted its stake in shares of ConocoPhillips by 26.6% in the fourth quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock worth $1,964,432,000 after buying an additional 3,497,750 shares in the last quarter. Alphinity Investment Management Pty Ltd purchased a new position in shares of ConocoPhillips in the third quarter worth about $310,102,000. Cowa LLC lifted its stake in shares of ConocoPhillips by 6,475.2% in the first quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock worth $2,383,000 after buying an additional 2,339,100 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. purchased a new position in shares of ConocoPhillips in the fourth quarter worth about $186,330,000. 80.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

Shares of COP opened at $111.16 on Monday. ConocoPhillips has a 1-year low of $91.53 and a 1-year high of $127.35. The stock has a market cap of $131.99 billion, a PE ratio of 12.27, a P/E/G ratio of 0.65 and a beta of 1.24. The firm has a 50-day simple moving average of $113.10 and a two-hundred day simple moving average of $116.55. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29.

ConocoPhillips (NYSE:COPGet Free Report) last posted its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The business had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. During the same quarter last year, the firm posted $2.71 earnings per share. As a group, analysts forecast that ConocoPhillips will post 9.45 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Monday, February 19th will be paid a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $3.12 annualized dividend and a dividend yield of 2.81%. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.61%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Johnson Rice downgraded shares of ConocoPhillips from an “accumulate” rating to a “hold” rating in a research note on Thursday, December 14th. UBS Group decreased their price target on shares of ConocoPhillips from $149.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, December 14th. Scotiabank raised their price objective on shares of ConocoPhillips from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Friday. Royal Bank of Canada raised their price objective on shares of ConocoPhillips from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 14th. Finally, Raymond James cut their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $134.33.

View Our Latest Stock Report on COP

About ConocoPhillips

(Free Report)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.

See Also

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COPFree Report).

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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