Healthcare of Ontario Pension Plan Trust Fund Has $249.92 Million Position in ConocoPhillips $COP

Healthcare of Ontario Pension Plan Trust Fund increased its holdings in ConocoPhillips (NYSE:COP) by 3,775.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,893,340 shares of the energy producer’s stock after purchasing an additional 1,844,490 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.16% of ConocoPhillips worth $249,921,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of ConocoPhillips in the 4th quarter worth approximately $25,000. Strive Asset Management LLC bought a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $28,000. Frazier Financial Advisors LLC boosted its stake in ConocoPhillips by 151.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after buying an additional 145 shares in the last quarter. BNP Paribas acquired a new stake in ConocoPhillips in the 2nd quarter valued at $33,000. Finally, Optima Capital LLC bought a new stake in ConocoPhillips in the fourth quarter valued at $34,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on COP shares. UBS Group dropped their price objective on ConocoPhillips from $155.00 to $143.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. Citigroup upped their target price on shares of ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Truist Financial dropped their target price on shares of ConocoPhillips from $128.00 to $115.00 and set a “hold” rating for the company in a research report on Wednesday, July 8th. Capital One Financial dropped their target price on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a research report on Monday, May 18th. Finally, Piper Sandler lifted their price target on shares of ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $134.16.

ConocoPhillips Price Performance

Shares of COP stock opened at $120.30 on Friday. The stock’s fifty day moving average is $113.50 and its 200-day moving average is $114.23. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The stock has a market capitalization of $146.56 billion, a PE ratio of 20.42, a PEG ratio of 1.45 and a beta of 0.12. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same period last year, the company posted $2.09 earnings per share. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. Equities research analysts expect that ConocoPhillips will post 9.2 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a yield of 2.8%. ConocoPhillips’s dividend payout ratio is currently 57.05%.

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.