Border to Coast Pensions Partnership Ltd Increases Stock Position in ConocoPhillips $COP

Border to Coast Pensions Partnership Ltd boosted its holdings in ConocoPhillips (NYSE:COP) by 42.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 478,554 shares of the energy producer’s stock after purchasing an additional 142,141 shares during the quarter. ConocoPhillips comprises 1.1% of Border to Coast Pensions Partnership Ltd’s investment portfolio, making the stock its 26th largest holding. Border to Coast Pensions Partnership Ltd’s holdings in ConocoPhillips were worth $63,363,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of COP. Blue Trust Inc. increased its stake in ConocoPhillips by 0.4% in the first quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock valued at $2,791,000 after purchasing an additional 92 shares during the period. Nicolet Advisory Services LLC boosted its stake in shares of ConocoPhillips by 0.9% during the fourth quarter. Nicolet Advisory Services LLC now owns 10,352 shares of the energy producer’s stock worth $989,000 after buying an additional 95 shares during the period. Duncan Williams Asset Management LLC grew its holdings in shares of ConocoPhillips by 4.4% during the fourth quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer’s stock worth $222,000 after buying an additional 100 shares during the last quarter. Wedge Capital Management L L P NC increased its position in ConocoPhillips by 4.1% in the 4th quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock valued at $241,000 after acquiring an additional 101 shares during the period. Finally, Strategic Blueprint LLC increased its position in ConocoPhillips by 1.3% in the 4th quarter. Strategic Blueprint LLC now owns 8,018 shares of the energy producer’s stock valued at $751,000 after acquiring an additional 101 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

Shares of COP opened at $105.63 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The stock’s 50 day moving average is $117.29 and its two-hundred day moving average is $111.81. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87. The firm has a market capitalization of $128.69 billion, a PE ratio of 17.93, a P/E/G ratio of 1.17 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The business had revenue of $15.76 billion during 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 company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.09 EPS. Research analysts anticipate that ConocoPhillips will post 10.03 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were given a $0.84 dividend. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 3.2%. ConocoPhillips’s dividend payout ratio is presently 57.05%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, 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 transaction, the chief executive officer owned 350,000 shares in the company, valued at approximately $46,448,500. This represents a 24.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Wolfe Research upped their price objective on ConocoPhillips from $138.00 to $144.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. UBS Group boosted their target price on ConocoPhillips from $130.00 to $144.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Susquehanna upped their price target on ConocoPhillips from $149.00 to $152.00 in a research note on Friday, May 1st. Roth Mkm raised ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price target for the stock from $124.00 to $130.00 in a report on Monday, June 22nd. Finally, Truist Financial set a $128.00 price objective on shares of ConocoPhillips in a research report on Friday, May 1st. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $134.04.

ConocoPhillips 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.