KLP Kapitalforvaltning AS Has $51.38 Million Stake in ConocoPhillips $COP

Key Points

• KLP Kapitalforvaltning AS has increased its stake in ConocoPhillips (COP) by 2.6%, now owning approximately $51.38 million worth of shares.
• Several institutional investors, including Financial Network Wealth Advisors and Clal Insurance Enterprises, have significantly increased their holdings in COP during the first quarter.
• ConocoPhillips recently reported earnings of $1.42 per share, exceeding analysts' expectations, and announced a quarterly dividend of $0.78 with a yield of 3.3%.

KLP Kapitalforvaltning AS grew its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 2.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 572,542 shares of the energy producer's stock after buying an additional 14,400 shares during the period. KLP Kapitalforvaltning AS's holdings in ConocoPhillips were worth $51,380,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in COP. Financial Network Wealth Advisors LLC raised its holdings in ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock valued at $30,000 after acquiring an additional 222 shares in the last quarter. Stone House Investment Management LLC bought a new stake in shares of ConocoPhillips during the first quarter valued at approximately $31,000. Garde Capital Inc. bought a new stake in shares of ConocoPhillips during the first quarter valued at approximately $35,000. IMA Advisory Services Inc. acquired a new position in shares of ConocoPhillips in the first quarter valued at $37,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its position in ConocoPhillips by 418.6% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer's stock worth $38,000 after purchasing an additional 293 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COP has been the topic of several analyst reports. BMO Capital Markets boosted their price target on shares of ConocoPhillips from $113.00 to $115.00 and gave the company an "outperform" rating in a report on Monday, September 22nd. Raymond James Financial lowered their target price on shares of ConocoPhillips from $117.00 to $115.00 and set an "outperform" rating on the stock in a research note on Monday, September 8th. Melius Research started coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They set a "hold" rating and a $117.00 price target for the company. Scotiabank lifted their price objective on ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. Finally, Mizuho dropped their target price on ConocoPhillips from $125.00 to $120.00 and set an "outperform" rating for the company in a report on Monday, September 15th. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of "Moderate Buy" and a consensus target price of $117.32.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $94.86 on Tuesday. The stock has a market capitalization of $118.47 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 2.49 and a beta of 0.62. The firm's 50-day moving average price is $94.88 and its two-hundred day moving average price is $92.74. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results 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 company had revenue of $14.94 billion during 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%. ConocoPhillips's quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.98 earnings per share. On average, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

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

About ConocoPhillips

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.

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