OMERS ADMINISTRATION Corp Purchases New Stake in ConocoPhillips $COP

OMERS ADMINISTRATION Corp acquired a new position in ConocoPhillips (NYSE:COP) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 75,754 shares of the energy producer’s stock, valued at approximately $7,875,000.

A number of other large investors also recently modified their holdings of COP. Patten Group Inc. boosted its holdings in shares of ConocoPhillips by 1.5% in the 1st quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock valued at $719,000 after buying an additional 83 shares during the period. IFC Advisors LLC lifted its holdings in ConocoPhillips by 0.4% in the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock worth $2,664,000 after acquiring an additional 84 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in ConocoPhillips by 9.6% in the first quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock worth $124,000 after acquiring an additional 88 shares during the last quarter. Blue Trust Inc. boosted 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 acquiring an additional 92 shares during the period. Finally, Sigma Planning Corp grew its holdings in shares of ConocoPhillips by 0.6% during the first quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer’s stock valued at $2,120,000 after purchasing an additional 94 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ConocoPhillips

In related news, SVP Andrew D. Lundquist sold 9,487 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the transaction, the senior vice president owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.09% of the stock is currently owned by company insiders.

ConocoPhillips Trading Down 1.1%

ConocoPhillips stock opened at $133.37 on Tuesday. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.88. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The stock has a market capitalization of $160.22 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 1.43 and a beta of 0.11. The firm has a 50 day simple moving average of $115.73 and a 200-day simple moving average of $117.97.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping the consensus estimate of $2.90 by $0.34. The firm had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The firm’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.42 earnings per share. As a group, equities research analysts expect that ConocoPhillips will post 10.46 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips’s payout ratio is currently 44.44%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on COP shares. Capital One Financial dropped their price target on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research report on Monday, May 18th. Morgan Stanley upped their price objective on ConocoPhillips from $147.00 to $151.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Wall Street Zen upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Mizuho reduced their price target on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a report on Tuesday, July 7th. Finally, BMO Capital Markets lowered their price target on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $140.29.

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.