BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $24.76 Million Position in ConocoPhillips (NYSE:COP)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in ConocoPhillips (NYSE:COP - Free Report) by 28.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 249,691 shares of the energy producer's stock after purchasing an additional 55,421 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in ConocoPhillips were worth $24,762,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Orrstown Financial Services Inc. boosted its position in shares of ConocoPhillips by 3.0% during the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer's stock valued at $331,000 after acquiring an additional 96 shares in the last quarter. Principle Wealth Partners LLC raised its position in ConocoPhillips by 0.3% in the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer's stock worth $3,695,000 after purchasing an additional 100 shares in the last quarter. Arlington Trust Co LLC lifted its stake in ConocoPhillips by 1.2% during the fourth quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer's stock worth $857,000 after purchasing an additional 102 shares during the period. Gray Wealth Management Inc. boosted its holdings in ConocoPhillips by 5.0% during the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer's stock valued at $215,000 after purchasing an additional 104 shares in the last quarter. Finally, Plancorp LLC boosted its holdings in ConocoPhillips by 2.7% during the fourth quarter. Plancorp LLC now owns 4,018 shares of the energy producer's stock valued at $399,000 after purchasing an additional 104 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Trading Up 0.1%

COP stock traded up $0.06 during midday trading on Tuesday, reaching $85.25. The stock had a trading volume of 2,200,445 shares, compared to its average volume of 7,377,577. The firm has a market cap of $107.77 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 0.79 and a beta of 0.64. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $119.23. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $91.82 and a two-hundred day simple moving average of $97.98.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The company had revenue of $16.18 billion during the quarter, compared to analysts' expectations of $15.74 billion. During the same quarter in the previous year, the company earned $2.05 EPS. As a group, research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend is Monday, May 19th. ConocoPhillips's payout ratio is 39.64%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on COP shares. JPMorgan Chase & Co. dropped their target price on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Piper Sandler lowered their price target on ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Raymond James reiterated an "outperform" rating and set a $109.00 price objective (up from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Morgan Stanley boosted their target price on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a report on Thursday, January 30th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, ConocoPhillips currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.89.

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.