National Pension Service Has $305.64 Million Position in ConocoPhillips $COP

Key Points

• National Pension Service increased its ConocoPhillips stake by 0.9% in the fourth quarter, ending with 3.27 million shares valued at about $305.6 million.
• ConocoPhillips reported better-than-expected quarterly earnings of $1.89 per share, topping estimates, while revenue also came in slightly above forecasts at $15.76 billion.
• The company announced a quarterly dividend of $0.84 per share, implying an annualized yield of 2.9%, even as insiders sold shares and analysts maintained a generally Moderate Buy outlook.

National Pension Service lifted its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 0.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,265,028 shares of the energy producer's stock after purchasing an additional 27,942 shares during the period. National Pension Service owned 0.26% of ConocoPhillips worth $305,639,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in ConocoPhillips by 14.7% during the third quarter. Victory Capital Management Inc. now owns 2,331,176 shares of the energy producer's stock worth $220,506,000 after buying an additional 298,245 shares during the last quarter. Natixis Advisors LLC boosted its holdings in ConocoPhillips by 8.7% during the third quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer's stock worth $188,842,000 after buying an additional 160,410 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in ConocoPhillips by 31.2% during the fourth quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer's stock worth $8,067,000 after buying an additional 20,501 shares during the last quarter. AE Wealth Management LLC boosted its holdings in ConocoPhillips by 107.5% during the third quarter. AE Wealth Management LLC now owns 103,430 shares of the energy producer's stock worth $9,783,000 after buying an additional 53,587 shares during the last quarter. Finally, Great Lakes Advisors LLC boosted its holdings in ConocoPhillips by 5.6% during the third quarter. Great Lakes Advisors LLC now owns 1,047,732 shares of the energy producer's stock worth $99,105,000 after buying an additional 55,901 shares during the last quarter. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Down 0.2%

NYSE COP opened at $114.89 on Friday. The firm has a market cap of $139.97 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.29 and a beta of 0.14. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The stock's 50-day moving average is $123.29 and its 200-day moving average is $108.42. ConocoPhillips has a one year low of $84.33 and a one year high of $135.87.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping analysts' consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter last year, the firm posted $2.09 earnings per share. ConocoPhillips's revenue was down 6.1% compared to the same quarter last year. Sell-side analysts anticipate that ConocoPhillips will post 9.92 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 11th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, May 11th. ConocoPhillips's dividend payout ratio (DPR) is currently 57.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on COP shares. UBS Group raised their target price on ConocoPhillips from $130.00 to $144.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Morgan Stanley raised their target price on ConocoPhillips from $149.00 to $153.00 and gave the stock an "overweight" rating in a report on Thursday, May 21st. Raymond James Financial raised their target price on ConocoPhillips from $118.00 to $145.00 and gave the stock an "outperform" rating in a report on Monday, April 27th. Freedom Capital cut ConocoPhillips from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 6th. Finally, Capital One Financial reduced their target price on ConocoPhillips from $156.00 to $154.00 and set an "equal weight" rating on the stock in a report on Monday, May 18th. Seventeen investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, ConocoPhillips presently has an average rating of "Moderate Buy" and an average price target of $134.60.

Insiders Place Their Bets

In related news, SVP Heather G. Hrap sold 2,654 shares of ConocoPhillips stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $119.68, for a total value of $317,630.72. Following the sale, the senior vice president owned 5,663 shares of the company's stock, valued at approximately $677,747.84. This trade represents a 31.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nicholas G. Olds sold 6,994 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $127.06, for a total value of $888,657.64. Following the completion of the sale, the executive vice president directly owned 5,395 shares in the company, valued at approximately $685,488.70. This represents a 56.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 734,891 shares of company stock worth $93,345,692 in the last 90 days. Company insiders own 0.09% of the company's stock.

About ConocoPhillips

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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