Ontario Teachers Pension Plan Board Increases Holdings in ConocoPhillips (NYSE:COP)

Ontario Teachers Pension Plan Board increased its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 78.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,770 shares of the energy producer's stock after purchasing an additional 12,623 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in ConocoPhillips were worth $2,853,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in COP. Orrstown Financial Services Inc. raised its stake in ConocoPhillips by 3.0% in the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer's stock valued at $331,000 after purchasing an additional 96 shares in the last quarter. Principle Wealth Partners LLC grew its position in ConocoPhillips by 0.3% in the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer's stock worth $3,695,000 after acquiring an additional 100 shares in the last quarter. Arlington Trust Co LLC raised its position in ConocoPhillips by 1.2% during the fourth quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer's stock valued at $857,000 after purchasing an additional 102 shares in the last quarter. Courier Capital LLC lifted its stake in ConocoPhillips by 0.5% during the fourth quarter. Courier Capital LLC now owns 20,481 shares of the energy producer's stock worth $2,031,000 after purchasing an additional 103 shares during the last quarter. Finally, Gray Wealth Management Inc. increased its position in shares of ConocoPhillips by 5.0% during the 4th quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer's stock valued at $215,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 82.36% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Truist Financial increased their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Morgan Stanley reaffirmed an "overweight" rating and set a $116.00 price objective on shares of ConocoPhillips in a research note on Tuesday. TD Cowen assumed coverage on ConocoPhillips in a research report on Friday, January 17th. They set a "buy" rating and a $125.00 price target on the stock. Wells Fargo & Company lowered their price objective on ConocoPhillips from $131.00 to $116.00 and set an "overweight" rating for the company in a research report on Tuesday. Finally, The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $128.32.

ConocoPhillips Stock Up 3.0 %

Shares of NYSE:COP traded up $2.60 during midday trading on Friday, reaching $88.96. The company's stock had a trading volume of 7,804,344 shares, compared to its average volume of 7,108,925. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $130.77. The firm has a market capitalization of $112.46 billion, a P/E ratio of 11.42, a PEG ratio of 0.79 and a beta of 0.83. The firm has a 50 day moving average of $95.25 and a 200-day moving average of $101.44. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating analysts' consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.51%. ConocoPhillips's payout ratio is currently 40.05%.

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.