PKO Investment Management Joint Stock Co Raises Stake in ConocoPhillips $COP

PKO Investment Management Joint Stock Co raised its holdings in shares of ConocoPhillips (NYSE:COP) by 28.5% during the first quarter, Holdings Channel reports. The fund owned 44,219 shares of the energy producer’s stock after buying an additional 9,800 shares during the period. PKO Investment Management Joint Stock Co’s holdings in ConocoPhillips were worth $5,837,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of ConocoPhillips in the 4th quarter valued at $25,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of ConocoPhillips during the 3rd quarter valued at $28,000. Board of the Pension Protection Fund purchased a new position in ConocoPhillips in the 4th quarter worth $28,000. Strive Asset Management LLC purchased a new position in ConocoPhillips in the 3rd quarter worth $28,000. Finally, BNP Paribas bought a new stake in ConocoPhillips in the second quarter worth $33,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $109.60 on Tuesday. The firm has a market cap of $133.52 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 1.19 and a beta of 0.11. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The company’s fifty day simple moving average is $118.37 and its two-hundred day simple moving average is $111.54.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.09 earnings per share. As a group, equities analysts expect that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s payout ratio is currently 57.05%.

Insider Transactions at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 113,221 shares of the business’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the transaction, the chief executive officer owned 350,000 shares in the company, valued at $46,448,500. The trade was a 24.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COP. BMO Capital Markets reduced their price objective on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Morgan Stanley boosted their target price on ConocoPhillips from $149.00 to $153.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Zacks Research cut ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Finally, Barclays raised their price target on ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $134.32.

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.