Versor Investments LP Makes New Investment in ConocoPhillips $COP

Key Points

• Versor Investments LP opened a new position in ConocoPhillips in the fourth quarter, buying 13,400 shares worth about $1.25 million.
• ConocoPhillips reported better-than-expected quarterly earnings of $1.89 per share on revenue of $15.76 billion, though revenue was down 6.1% year over year.
• The company announced a quarterly dividend of $0.84 per share, implying an annualized payout of $3.36 and a yield of about 2.9%.

Versor Investments LP acquired a new position in shares of ConocoPhillips (NYSE:COP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 13,400 shares of the energy producer's stock, valued at approximately $1,254,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new stake in ConocoPhillips during the 3rd quarter worth approximately $26,000. Strive Asset Management LLC bought a new stake in ConocoPhillips during the 3rd quarter worth approximately $28,000. Board of the Pension Protection Fund bought a new stake in ConocoPhillips during the 4th quarter worth approximately $28,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of ConocoPhillips in the third quarter valued at approximately $28,000. Finally, Optima Capital LLC bought a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $34,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Up 1.5%

NYSE:COP opened at $115.55 on Tuesday. The company has a market cap of $140.77 billion, a P/E ratio of 19.62, a P/E/G ratio of 1.60 and a beta of 0.14. The stock's fifty day moving average price is $122.86 and its two-hundred day moving average price is $105.51. ConocoPhillips has a 1 year low of $84.28 and a 1 year high of $135.87. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its 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. The firm had revenue of $15.76 billion for the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business's quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.09 earnings per share. As a group, analysts expect that ConocoPhillips will post 9.5 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be given a dividend of $0.84 per share. The ex-dividend date is Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. ConocoPhillips's dividend payout ratio is currently 57.05%.

Insider Activity

In related news, EVP Nicholas G. Olds sold 6,994 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $127.06, for a total value of $888,657.64. Following the sale, the executive vice president owned 5,395 shares in the company, valued at approximately $685,488.70. This trade represents a 56.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Michael Lance sold 113,221 shares of the stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total value of $15,025,558.91. Following the completion of the sale, the chief executive officer owned 350,000 shares in the company, valued at $46,448,500. This trade represents a 24.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 734,891 shares of company stock valued at $93,345,692. 0.09% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

COP has been the subject of several recent analyst reports. Citigroup upped their target price on ConocoPhillips from $135.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. Bank of America reissued an "underperform" rating and set a $102.00 price objective on shares of ConocoPhillips in a report on Friday, January 16th. Piper Sandler increased their price objective on ConocoPhillips from $154.00 to $157.00 and gave the company an "overweight" rating in a report on Wednesday, April 8th. Argus increased their price objective on ConocoPhillips from $111.00 to $128.00 and gave the company a "strong-buy" rating in a report on Friday, February 13th. Finally, JPMorgan Chase & Co. increased their price objective on ConocoPhillips from $98.00 to $103.00 and gave the company a "neutral" rating in a report on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $133.04.

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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