Public Sector Pension Investment Board Grows Stock Holdings in ConocoPhillips (NYSE:COP)

Key Points

• The Public Sector Pension Investment Board increased its stake in ConocoPhillips by 1.6%, owning 341,094 shares valued at approximately $35.82 million as of its latest SEC filing.
• ConocoPhillips reported stronger-than-expected earnings with a quarterly EPS of $1.42, surpassing analysts' expectations and reflecting an increase in revenue to $14.94 billion.
• The company recently announced a quarterly dividend of $0.78 per share, which yields around 3.3%, with a dividend payout ratio of approximately 41.88%.

Public Sector Pension Investment Board grew its position in ConocoPhillips (NYSE:COP - Free Report) by 1.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 341,094 shares of the energy producer's stock after buying an additional 5,454 shares during the period. Public Sector Pension Investment Board's holdings in ConocoPhillips were worth $35,822,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of ConocoPhillips by 13.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock worth $4,546,706,000 after acquiring an additional 5,549,078 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of ConocoPhillips by 379.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer's stock worth $4,210,751,000 after acquiring an additional 31,736,423 shares during the period. Capital International Investors grew its stake in shares of ConocoPhillips by 4.9% in the fourth quarter. Capital International Investors now owns 31,287,113 shares of the energy producer's stock worth $3,101,989,000 after acquiring an additional 1,473,027 shares during the period. Northern Trust Corp grew its stake in shares of ConocoPhillips by 27.6% in the fourth quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer's stock worth $1,364,364,000 after acquiring an additional 2,971,661 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of ConocoPhillips by 9.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,021,394 shares of the energy producer's stock worth $1,191,984,000 after acquiring an additional 1,078,707 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ConocoPhillips

In related news, EVP Kirk L. Johnson bought 5,300 shares of the stock in a transaction dated Monday, June 16th. The shares were purchased at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the acquisition, the executive vice president owned 14,527 shares of the company's stock, valued at $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.24% of the company's stock.

ConocoPhillips Price Performance

Shares of COP traded up $1.01 during mid-day trading on Tuesday, reaching $94.54. The stock had a trading volume of 7,524,697 shares, compared to its average volume of 6,269,311. The firm has a market cap of $118.07 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 2.43 and a beta of 0.67. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The business has a fifty day moving average of $93.04 and a 200 day moving average of $93.54. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27.

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

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, August 18th. ConocoPhillips's payout ratio is 41.88%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on COP shares. Barclays reduced their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Susquehanna reduced their price target on shares of ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Raymond James Financial lifted their price target on shares of ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Scotiabank boosted their target price on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Finally, Roth Capital restated a "buy" rating and set a $108.00 target price on shares of ConocoPhillips in a research report on Thursday, August 7th. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $120.84.

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.