Generali Powszechne Towarzystwo Emerytalne Takes $42.57 Million Position in ConocoPhillips $COP

Key Points

• Generali Powszechne Towarzystwo Emerytalne bought 322,500 shares of ConocoPhillips in the first quarter, a stake valued at about $42.57 million. The position makes COP the fund’s 2nd largest holding and 7.5% of its portfolio.
• ConocoPhillips reported better-than-expected quarterly earnings, with EPS of $1.89 versus estimates of $1.72 and revenue of $15.76 billion, though revenue fell 6.1% year over year. The company also pays a quarterly dividend of $0.84 per share, or $3.36 annually for a 3.2% yield.
• Sentiment around COP remains mixed but generally constructive: several analysts have buy ratings or raised price targets, and the stock is viewed as a Moderate Buy with an average target of $134.32. However, the shares were down slightly and energy stocks face pressure from lower oil prices.

Generali Powszechne Towarzystwo Emerytalne purchased a new position in shares of ConocoPhillips (NYSE:COP - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 322,500 shares of the energy producer's stock, valued at approximately $42,570,000. ConocoPhillips accounts for 7.5% of Generali Powszechne Towarzystwo Emerytalne's portfolio, making the stock its 2nd biggest holding.

Several other large investors have also recently added to or reduced their stakes in COP. Vanguard Group Inc. raised its stake in shares of ConocoPhillips by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer's stock worth $11,256,713,000 after buying an additional 408,304 shares in the last quarter. Capital International Investors boosted its stake in shares of ConocoPhillips by 5.9% in the fourth quarter. Capital International Investors now owns 48,360,060 shares of the energy producer's stock valued at $4,527,230,000 after buying an additional 2,714,663 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in ConocoPhillips by 6.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer's stock worth $3,880,151,000 after acquiring an additional 2,350,645 shares during the period. Franklin Resources Inc. grew its holdings in ConocoPhillips by 4.5% during the fourth quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer's stock worth $1,407,770,000 after acquiring an additional 648,432 shares during the period. Finally, Fisher Asset Management LLC raised its position in ConocoPhillips by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer's stock worth $1,389,862,000 after acquiring an additional 193,401 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 113,221 shares of the company's stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total value of $15,025,558.91. Following the sale, the chief executive officer owned 350,000 shares of the company's stock, valued at $46,448,500. This represents a 24.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company's stock.

ConocoPhillips Stock Down 0.5%

ConocoPhillips stock opened at $106.33 on Friday. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87. The firm has a market capitalization of $129.55 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 1.18 and a beta of 0.11. The stock's fifty day moving average is $117.55 and its two-hundred day moving average is $111.85. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the previous year, the company posted $2.09 EPS. The business's revenue was down 6.1% on a year-over-year basis. Analysts predict that ConocoPhillips will post 10.03 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 3.2%. The ex-dividend date was Monday, May 11th. ConocoPhillips's dividend payout ratio (DPR) is 57.05%.

Key ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Roth Capital upgraded ConocoPhillips to Buy from Neutral, which can support investor confidence in the stock. Roth Capital Upgrades ConocoPhillips (COP) to Buy. Here is Why
• Positive Sentiment: ConocoPhillips was named to RBC Capital’s June Global Energy Best Ideas list, reinforcing the view that analysts see upside potential in the name. ConocoPhillips (COP) Named to RBC Capital’s June Global Energy Best Ideas List
• Neutral Sentiment: The company announced it will host its second-quarter earnings conference call on Aug. 6, keeping attention on upcoming results and guidance. ConocoPhillips to hold second-quarter earnings conference call on Thursday, Aug. 6
• Negative Sentiment: Broader oil-and-gas shares fell after crude dropped to its lowest level since the start of the Iran conflict, as easing geopolitical risk and resumed tanker traffic pressured oil prices and upstream producers like COP. TechnipFMC and Valaris Shares Plummet, What You Need To Know

Wall Street Analysts Forecast Growth

A number of research firms have commented on COP. Jefferies Financial Group raised their target price on ConocoPhillips from $160.00 to $161.00 and gave the company a "buy" rating in a report on Monday, May 18th. Raymond James Financial lowered their price target on shares of ConocoPhillips from $145.00 to $142.00 and set an "outperform" rating on the stock in a research note on Monday, June 1st. Citigroup raised their price objective on shares of ConocoPhillips from $135.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, April 2nd. Royal Bank Of Canada set a $130.00 price objective on shares of ConocoPhillips in a report on Monday. Finally, UBS Group upped their target price on shares of ConocoPhillips from $130.00 to $144.00 and gave the stock a "buy" rating in a research report on Thursday, March 5th. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $134.32.

ConocoPhillips Company 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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