Healthcare of Ontario Pension Plan Trust Fund Increases Share Position in ConocoPhillips (NYSE:COP)

Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in ConocoPhillips (NYSE:COP – Free Report) by 10.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 202,375 shares of the energy producer’s stock after purchasing an additional 19,268 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in ConocoPhillips were worth $23,148,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have recently added to or reduced their stakes in COP. Cooksen Wealth LLC acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at about $27,000. Stephens Consulting LLC lifted its position in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares during the period. Richardson Capital Management LLC acquired a new stake in shares of ConocoPhillips in the first quarter valued at approximately $31,000. Northwest Bank & Trust Co purchased a new stake in shares of ConocoPhillips during the fourth quarter valued at approximately $32,000. Finally, Ruedi Wealth Management Inc. lifted its position in shares of ConocoPhillips by 150.0% in the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s shares.

ConocoPhillips trading rose 1.9%

Shares of COP stock opened at $112.42 on Friday. The stock has a fifty day moving average of $108.69 and a two hundred day moving average of $116.06. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19, and a current ratio of 1.33. The company has a market cap of $131.48 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 0.82 and a beta of 1.21. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP – Get Your Free Report ) last posted its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. During the same period in the previous year, the firm posted EPS of $1.84. ConocoPhillips’ revenue rose 9.7% year over year. As a group, analysts forecast that ConocoPhillips will post 8.12 EPS for the current year.

ConocoPhillips cuts dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, August 12. This represents an annualized dividend of $2.32 and a dividend yield of 2.06%. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Indoor activity

In other news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. Corporate insiders own 0.34% of the company’s shares.

Changes in Analyst Ratings

COP has been the subject of a number of research reports. Mizuho cut their price target on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Wells Fargo & Company cut their price target on shares of ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Scotiabank decreased their price objective on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Wolfe Research assumed coverage on ConocoPhillips in a research report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective for the company. Finally, Truist Financial reduced their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $139.13, according to MarketBeat data.

Get the latest stock report on ConocoPhillips

About ConocoPhillips

(Free Report)

ConocoPhillips explores, 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 parts from North America; conventional assets in North America, Europe, Asia and Australia; global LNG developments; Canadian oil sands assets; and an inventory of global exploration prospects.

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