ING Groep NV Increases Stock Position in ConocoPhillips $COP

ING Groep NV increased its holdings in shares of ConocoPhillips (NYSE:COP) by 1,138.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 160,859 shares of the energy producer’s stock after purchasing an additional 147,875 shares during the period. ING Groep NV’s holdings in ConocoPhillips were worth $15,058,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vermillion Wealth Management Inc. boosted its position in ConocoPhillips by 210.6% during the 4th quarter. Vermillion Wealth Management Inc. now owns 2,451 shares of the energy producer’s stock worth $229,000 after purchasing an additional 1,662 shares during the period. Capital Research Global Investors boosted its position in ConocoPhillips by 0.5% during the 4th quarter. Capital Research Global Investors now owns 1,149,440 shares of the energy producer’s stock worth $107,599,000 after purchasing an additional 6,253 shares during the period. Capital International Sarl boosted its position in ConocoPhillips by 4.3% during the 4th quarter. Capital International Sarl now owns 122,353 shares of the energy producer’s stock worth $11,453,000 after purchasing an additional 5,036 shares during the period. Capital International Ltd. CA boosted its position in ConocoPhillips by 5.6% during the 4th quarter. Capital International Ltd. CA now owns 60,680 shares of the energy producer’s stock worth $5,680,000 after purchasing an additional 3,242 shares during the period. Finally, Capital International Inc. CA boosted its position in ConocoPhillips by 7.2% during the 4th quarter. Capital International Inc. CA now owns 725,548 shares of the energy producer’s stock worth $67,919,000 after purchasing an additional 48,418 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on COP shares. Barclays upped their price target on shares of ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. BMO Capital Markets cut their price objective on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Citigroup boosted their price objective on shares of ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Finally, Zacks Research lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Seventeen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.48.

Insider Activity

In related news, CEO Ryan Michael Lance sold 113,221 shares of the stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the sale, the chief executive officer owned 350,000 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Heather G. Hrap sold 2,654 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $119.68, for a total transaction of $317,630.72. Following the sale, the senior vice president owned 5,663 shares in the company, valued at approximately $677,747.84. This trade represents a 31.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 686,391 shares of company stock valued at $87,590,752 over the last quarter. Corporate insiders own 0.09% of the company’s stock.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $117.10 on Monday. The firm has a market cap of $142.66 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 1.30 and a beta of 0.11. The firm’s 50-day simple moving average is $122.08 and its 200-day simple moving average is $109.58. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87.

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, beating analysts’ consensus estimates of $1.72 by $0.17. The business had revenue of $15.76 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.09 EPS. Equities analysts forecast that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were paid a dividend of $0.84 per share. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 2.9%. ConocoPhillips’s dividend payout ratio is 57.05%.

About ConocoPhillips

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.