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

Healthcare of Ontario Pension Plan Trust Fund raised its holdings in ConocoPhillips (NYSE:COP) 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 also recently added to or reduced their stakes in COP. Cooksen Wealth LLC acquired a new stake in shares of ConocoPhillips during the 4th quarter valued at approximately $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 during the 1st quarter valued at approximately $31,000. Northwest Bank & Trust Co acquired a new stake in shares of ConocoPhillips during the 4th quarter valued at approximately $32,000. Finally, Ruedi Wealth Management Inc. lifted its position in shares of ConocoPhillips by 150.0% during the 1st 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 stock.

ConocoPhillips Trading Up 1.9 %

Shares of COP 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 capitalization 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) last issued its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating 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 $1.84 EPS. ConocoPhillips’s revenue was up 9.7% on a year-over-year basis. As a group, analysts forecast that ConocoPhillips will post 8.12 EPS for the current year.

ConocoPhillips Cuts Dividend

The business 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 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.06%. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Insider Activity

In other news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction on 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 through this link. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of a number of research reports. Mizuho reduced 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 reduced 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 cut 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 cut 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. According to data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $139.13.

About ConocoPhillips

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