OMERS ADMINISTRATION Corp Sells 9,367 Shares of ConocoPhillips $COP

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in ConocoPhillips by 13.1%, owning 62,217 shares valued at approximately $6.5 million after selling 9,367 shares.
• ConocoPhillips recently reported $1.42 earnings per share, beating estimates, and indicated total quarterly revenue of $14.94 billion, up 4.3% year-over-year.
• Insider transactions included EVP Kirk L. Johnson purchasing 5,300 shares at an average price of $94.24, raising his holdings by 57.44%.

OMERS ADMINISTRATION Corp trimmed its holdings in ConocoPhillips (NYSE:COP - Free Report) by 13.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,217 shares of the energy producer's stock after selling 9,367 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in ConocoPhillips were worth $6,534,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Second Line Capital LLC boosted 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 worth $495,000 after purchasing an additional 108 shares during the period. Meiji Yasuda Life Insurance Co boosted its position in shares of ConocoPhillips by 1.6% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 7,091 shares of the energy producer's stock valued at $703,000 after acquiring an additional 110 shares during the last quarter. LRI Investments LLC boosted its position in shares of ConocoPhillips by 3.6% during the 4th quarter. LRI Investments LLC now owns 3,184 shares of the energy producer's stock valued at $316,000 after acquiring an additional 110 shares during the last quarter. KLCM Advisors Inc. boosted its position in shares of ConocoPhillips by 2.6% during the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer's stock valued at $473,000 after acquiring an additional 115 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators boosted its position in shares of ConocoPhillips by 3.9% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer's stock valued at $334,000 after acquiring an additional 118 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were bought at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the transaction, the executive vice president directly owned 14,527 shares in the company, valued at $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company restated an "overweight" rating and set a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Morgan Stanley restated an "overweight" rating and set a $123.00 price target (up previously from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Scotiabank increased their price target on ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. Mizuho decreased their price target on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Finally, UBS Group increased their target price on ConocoPhillips from $116.00 to $124.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Sixteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, ConocoPhillips has an average rating of "Moderate Buy" and a consensus price target of $120.95.

ConocoPhillips Stock Down 0.0%

Shares of COP traded down $0.02 during midday trading on Tuesday, reaching $98.96. 3,228,878 shares of the stock were exchanged, compared to its average volume of 7,987,461. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The company's 50 day moving average is $94.30 and its two-hundred day moving average is $93.17. The company has a market capitalization of $123.59 billion, a P/E ratio of 13.28, a PEG ratio of 2.60 and a beta of 0.69.

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

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.2%. ConocoPhillips's dividend payout ratio is presently 41.88%.

ConocoPhillips 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.