Canada Pension Plan Investment Board Has $123.62 Million Holdings in ConocoPhillips $COP

Key Points

• The Canada Pension Plan Investment Board significantly increased its stake in ConocoPhillips by 6,041.6%, acquiring a total of 1,177,101 shares worth approximately $123.6 million.
• ConocoPhillips reported a quarterly EPS of $1.42, surpassing analysts' expectations, along with revenues of $14.94 billion, marking a 4.3% year-over-year increase.
• The company declared a quarterly dividend of $0.78, with a yield of 3.1%, indicating a dividend payout ratio of 41.88%.

Canada Pension Plan Investment Board boosted its position in ConocoPhillips (NYSE:COP - Free Report) by 6,041.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,177,101 shares of the energy producer's stock after purchasing an additional 1,157,935 shares during the period. Canada Pension Plan Investment Board owned about 0.09% of ConocoPhillips worth $123,619,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Second Line Capital LLC lifted its stake in ConocoPhillips by 2.2% in the 4th quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer's stock valued at $495,000 after purchasing an additional 108 shares during the last quarter. Meiji Yasuda Life Insurance Co lifted its position in ConocoPhillips by 1.6% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 7,091 shares of the energy producer's stock worth $703,000 after acquiring an additional 110 shares during the last quarter. LRI Investments LLC lifted its position in ConocoPhillips by 3.6% during the fourth quarter. LRI Investments LLC now owns 3,184 shares of the energy producer's stock worth $316,000 after acquiring an additional 110 shares during the last quarter. KLCM Advisors Inc. lifted its position in ConocoPhillips by 2.6% during the first quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer's stock worth $473,000 after acquiring an additional 115 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators lifted its position in ConocoPhillips by 3.9% during the first quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer's stock worth $334,000 after acquiring an additional 118 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COP has been the subject of several research reports. Wells Fargo & Company restated an "overweight" rating and set a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Melius Research initiated coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They set a "hold" rating and a $117.00 price objective for the company. Melius initiated coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They set a "hold" rating and a $117.00 target price on the stock. Susquehanna lowered their target price on shares of ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Finally, UBS Group raised their target price on shares of ConocoPhillips from $116.00 to $124.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of "Moderate Buy" and a consensus price target of $120.95.

Insider Buying and Selling at ConocoPhillips

In related news, EVP Kirk L. Johnson bought 5,300 shares of the firm's stock in a transaction on Monday, June 16th. The shares were purchased at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the purchase, the executive vice president owned 14,527 shares in the company, valued at $1,369,024.48. This represents a 57.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.24% of the company's stock.

ConocoPhillips Price Performance

NYSE:COP traded down $4.28 during mid-day trading on Wednesday, reaching $94.71. The stock had a trading volume of 7,368,208 shares, compared to its average volume of 7,994,780. The stock has a 50-day simple moving average of $94.49 and a two-hundred day simple moving average of $93.21. The stock has a market capitalization of $118.28 billion, a PE ratio of 12.71, a P/E/G ratio of 2.60 and a beta of 0.69. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.06. The business had revenue of $14.94 billion for the quarter, compared to analysts' expectations of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm's quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the firm posted $1.98 earnings per share. On average, equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips's payout ratio is presently 41.88%.

ConocoPhillips Company Profile

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.