Findlay Park Partners LLP Makes New $207.73 Million Investment in ConocoPhillips (NYSE:COP)

Findlay Park Partners LLP purchased a new position in ConocoPhillips (NYSE:COP – Get Rating) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,760,409 shares of the energy producer’s stock, valued at approximately $207,728,000. ConocoPhillips accounts for 2.3% of Findlay Park Partners LLP’s portfolio, making the stock its 16th biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Denver Wealth Management Inc. boosted its stake in shares of ConocoPhillips by 3.2% during the 3rd quarter. Denver Wealth Management Inc. now owns 2,548 shares of the energy producer’s stock valued at $261,000 after buying an additional 80 shares during the last quarter. BBR Partners LLC raised its position in shares of ConocoPhillips by 2.4% during the 3rd quarter. BBR Partners LLC now owns 3,559 shares of the energy producer’s stock valued at $364,000 after acquiring an additional 84 shares in the last quarter. Atwood & Palmer Inc. raised its position in shares of ConocoPhillips by 14.4% during the 4th quarter. Atwood & Palmer Inc. now owns 668 shares of the energy producer’s stock valued at $79,000 after acquiring an additional 84 shares in the last quarter. PFG Advisors raised its position in shares of ConocoPhillips by 2.5% during the 4th quarter. PFG Advisors now owns 3,639 shares of the energy producer’s stock valued at $429,000 after acquiring an additional 89 shares in the last quarter. Finally, Orleans Capital Management Corp LA raised its position in shares of ConocoPhillips by 0.3% during the 3rd quarter. Orleans Capital Management Corp LA now owns 35,295 shares of the energy producer’s stock valued at $3,612,000 after acquiring an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

ConocoPhillips Stock Performance

COP opened at $104.39 on Wednesday. The firm has a market capitalization of $126.32 billion, a P/E ratio of 8.35, a price-to-earnings-growth ratio of 0.55 and a beta of 1.30. The stock’s 50 day moving average price is $101.57 and its two-hundred day moving average price is $111.23. The company has a quick ratio of 1.29, a current ratio of 1.39 and a debt-to-equity ratio of 0.32. ConocoPhillips has a 12-month low of $78.30 and a 12-month high of $138.49.

ConocoPhillips (NYSE:COP – Get Rating) last released its earnings results on Thursday, May 4th. The energy producer reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.36. ConocoPhillips had a return on equity of 32.75% and a net margin of 20.21%. The firm had revenue of $15.52 billion for the quarter, compared to analyst estimates of $16.06 billion. During the same quarter last year, the firm posted $3.27 EPS. The company’s revenue was down 19.6% on a year-over-year basis. On average, equities analysts forecast that ConocoPhillips will post 10.27 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Tuesday, May 16th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Monday, June 26th. ConocoPhillips’s payout ratio is presently 16.32%.

Insider Transactions at ConocoPhillips

In related news, Director Caroline Maury Devine sold 1,000 shares of the business’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $102.08, for a total value of $102,080.00. Following the sale, the director now owns 849 shares of the company’s stock, valued at approximately $86,665.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on COP shares. UBS Group started coverage on ConocoPhillips in a research report on Wednesday, April 19th. They set a “buy” rating and a $139.00 price target on the stock. Morgan Stanley increased their target price on ConocoPhillips from $122.00 to $124.00 in a research report on Monday, May 15th. Mizuho lowered their price target on ConocoPhillips from $128.00 to $126.00 in a report on Friday, May 19th. Citigroup lowered their price target on ConocoPhillips from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Monday, February 27th. Finally, Truist Financial raised their price target on ConocoPhillips from $151.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, April 11th. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $137.58.

About ConocoPhillips

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ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska, Lower 48, Canada, Europe, Middle East and North Africa, Asia Pacific, and Other International.