Canada Pension Plan Investment Board Acquires 99,300 Shares of ConocoPhillips (NYSE:COP)

Canada Pension Plan Investment Board raised its position in ConocoPhillips (NYSE:COPFree Report) by 568.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 quarter.

Other hedge funds have also recently modified their holdings of the company. West Tower Group LLC purchased a new position in shares of ConocoPhillips in the second quarter valued at about $27,000. RVW Wealth LLC purchased a new position in shares of ConocoPhillips in the third quarter valued at about $28,000. Fairfield Bush & CO. purchased a new position in shares of ConocoPhillips in the first quarter valued at about $31,000. Halpern Financial Inc. purchased a new position in shares of ConocoPhillips in the third quarter valued at about $39,000. Finally, Mascoma Wealth Management LLC increased its position in shares of ConocoPhillips by 35.9% in the third quarter. Mascoma Wealth Management LLC now owns 333 shares of the energy producer’s stock valued at $40,000 after acquiring an additional 88 shares during the period. Hedge funds and other institutional investors own 80.36% of the company’s stock.

Analyst Ratings Changes

COP has been the topic of a number of research reports. Royal Bank of Canada lifted their target price on shares of ConocoPhillips from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, November 14th. Mizuho cut their target price on shares of ConocoPhillips from $139.00 to $132.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 3rd. Johnson Rice lowered shares of ConocoPhillips from an “accumulate” rating to a “hold” rating in a research note on Thursday, December 14th. UBS Group cut their target price 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. Finally, Susquehanna cut their target price on shares of ConocoPhillips from $152.00 to $133.00 and set a “positive” rating on the stock in a research note on Friday, January 26th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $134.33.

Get Our Latest Research Report on COP

ConocoPhillips Trading Down 2.4 %

Shares of NYSE COP opened at $111.16 on Monday. The firm’s 50 day moving average price is $113.10 and its 200-day moving average price is $116.55. The company 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. ConocoPhillips has a 52-week low of $91.53 and a 52-week high of $127.35. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43.

ConocoPhillips (NYSE:COPGet Free Report) last issued its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.32. The firm had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same quarter in the prior year, the firm posted $2.71 earnings per share. On average, equities research analysts expect that ConocoPhillips will post 9.45 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced 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 represents a $3.12 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Thursday, February 15th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 25.61%.

ConocoPhillips Company Profile

(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

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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