Canada Pension Plan Investment Board Takes $250.68 Million Position in ConocoPhillips $COP

Key Points

• Canada Pension Plan Investment Board acquired 2.41 million ConocoPhillips shares worth approximately $250.7 million, representing about 0.20% of the company. Institutional investors collectively own 82.36% of COP.
• ConocoPhillips beat quarterly expectations with adjusted EPS of $3.24 versus the $2.90 consensus and revenue of $19.52 billion, up 32.4% year over year. The company declared a quarterly dividend of $0.84 per share, equivalent to a 2.5% yield.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and average price target of $140.29. However, SVP Andrew Lundquist sold 9,487 shares for about $1.28 million, nearly halving his position.

Canada Pension Plan Investment Board acquired a new stake in shares of ConocoPhillips (NYSE:COP - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,411,278 shares of the energy producer's stock, valued at approximately $250,676,000. Canada Pension Plan Investment Board owned approximately 0.20% of ConocoPhillips at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of ConocoPhillips in the 4th quarter valued at about $25,000. Strive Asset Management LLC bought a new position in shares of ConocoPhillips in the third quarter worth approximately $28,000. Frazier Financial Advisors LLC increased its position in shares of ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer's stock worth $32,000 after purchasing an additional 145 shares during the last quarter. Allied Private Wealth LLC purchased a new stake in ConocoPhillips in the second quarter valued at approximately $32,000. Finally, BNP Paribas purchased a new stake in ConocoPhillips in the second quarter valued at approximately $33,000. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $131.84 on Wednesday. The firm has a fifty day simple moving average of $116.14 and a two-hundred day simple moving average of $118.14. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.88. The company has a market capitalization of $158.39 billion, a PE ratio of 17.44, a P/E/G ratio of 1.40 and a beta of 0.11.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.90 by $0.34. The firm had revenue of $19.52 billion for the quarter, compared to analysts' expectations of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The company's revenue for the quarter was up 32.4% compared to the same quarter last year. During the same period last year, the firm earned $1.42 earnings per share. Research analysts expect that ConocoPhillips will post 10.55 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, August 17th. ConocoPhillips's dividend payout ratio (DPR) is presently 44.44%.

Insider Buying and Selling

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

Key Stories Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: An executive said additional Arctic drilling activity is “inevitable,” signaling potential long-term growth opportunities for ConocoPhillips as access to the region expands. However, the development is unlikely to materially affect near-term earnings. More Arctic activity inevitable says ConocoPhillips
• Positive Sentiment: RBC Capital reaffirmed its Buy rating, supporting the bullish analyst view on COP. The company also benefits from firmer crude prices amid supply concerns, which could improve upstream revenue and cash flow. RBC Capital reaffirms Buy rating
• Neutral Sentiment: With COP shares near a three-month peak, a covered-call strategy offering a 1.75% yield at the $140 September strike may appeal to income-focused shareholders. The strategy also suggests investors see the stock’s upside as potentially limited in the near term. Covered call yields with ConocoPhillips
• Negative Sentiment: Senior Vice President Andrew Lundquist sold 9,487 shares for approximately $1.28 million, reducing his position by nearly 50%. While insider sales can reflect personal financial planning, the sizable transaction may weigh on sentiment, particularly with the stock near recent highs. Andrew Lundquist sells ConocoPhillips shares

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Freedom Capital raised shares of ConocoPhillips from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. BMO Capital Markets reduced their target price on ConocoPhillips from $140.00 to $135.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 13th. Wells Fargo & Company raised their price target on ConocoPhillips from $183.00 to $189.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Barclays cut their price objective on ConocoPhillips from $155.00 to $150.00 and set an "overweight" rating for the company in a report on Monday, August 17th. Finally, Royal Bank Of Canada set a $130.00 price objective on ConocoPhillips in a report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $140.29.

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.

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