OMERS ADMINISTRATION Corp Takes Position in ConocoPhillips $COP

OMERS ADMINISTRATION Corp acquired a new stake in shares of ConocoPhillips (NYSE:COP) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 75,754 shares of the energy producer’s stock, valued at approximately $7,875,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COP. Patten Group Inc. lifted its holdings in ConocoPhillips by 1.5% in the 1st quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock valued at $719,000 after purchasing an additional 83 shares in the last quarter. IFC Advisors LLC raised its position in shares of ConocoPhillips by 0.4% in the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock valued at $2,664,000 after buying an additional 84 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of ConocoPhillips by 9.6% during the first quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock valued at $124,000 after buying an additional 88 shares during the period. Blue Trust Inc. boosted its position in ConocoPhillips by 0.4% during the first quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock worth $2,791,000 after acquiring an additional 92 shares during the last quarter. Finally, Sigma Planning Corp grew its stake in ConocoPhillips by 0.6% in the 1st quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer’s stock worth $2,120,000 after acquiring an additional 94 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 1.1%

NYSE:COP opened at $133.37 on Tuesday. The business’s 50-day moving average is $115.73 and its two-hundred day moving average is $117.97. The firm has a market capitalization of $160.22 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 1.43 and a beta of 0.11. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.88.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. During the same quarter in the previous year, the firm posted $1.42 EPS. The firm’s quarterly revenue was up 32.4% on a year-over-year basis. Research analysts predict that ConocoPhillips will post 10.46 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, August 17th. ConocoPhillips’s dividend payout ratio is 44.44%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COP. Susquehanna increased their price target on ConocoPhillips from $155.00 to $161.00 and gave the stock a “positive” rating in a research note on Tuesday, August 11th. Argus lifted their price objective on ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Wells Fargo & Company upped their target price on ConocoPhillips from $183.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Roth Capital raised ConocoPhillips from a “neutral” rating to a “buy” rating and raised their price target for the stock from $124.00 to $130.00 in a research note on Monday, June 22nd. Finally, Mizuho lowered their price target on ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.29.

Insiders Place Their Bets

In other news, SVP Andrew D. Lundquist sold 9,487 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the sale, the senior vice president owned 9,593 shares of the company’s stock, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is currently owned by corporate insiders.

ConocoPhillips 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.