Ilmarinen Mutual Pension Insurance Co Takes $17.60 Million Position in ConocoPhillips (NYSE:COP)

Ilmarinen Mutual Pension Insurance Co purchased a new position in shares of ConocoPhillips (NYSE:COP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 177,500 shares of the energy producer's stock, valued at approximately $17,603,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COP. Vanguard Group Inc. raised its holdings in shares of ConocoPhillips by 11.7% during the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock worth $12,081,491,000 after purchasing an additional 12,751,120 shares during the period. Wellington Management Group LLP raised its stake in ConocoPhillips by 20.2% during the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer's stock worth $3,280,725,000 after acquiring an additional 5,240,016 shares during the period. Geode Capital Management LLC lifted its holdings in ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock worth $2,792,521,000 after acquiring an additional 3,397,360 shares during the last quarter. Franklin Resources Inc. boosted its stake in ConocoPhillips by 6.4% in the fourth quarter. Franklin Resources Inc. now owns 14,420,058 shares of the energy producer's stock valued at $1,430,034,000 after acquiring an additional 862,707 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of ConocoPhillips by 10.6% during the 4th quarter. Fisher Asset Management LLC now owns 13,780,782 shares of the energy producer's stock worth $1,366,640,000 after purchasing an additional 1,324,771 shares during the period. 82.36% of the stock is owned by institutional investors.

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ConocoPhillips Price Performance

ConocoPhillips stock traded down $0.56 during midday trading on Monday, hitting $85.74. The company's stock had a trading volume of 12,868,881 shares, compared to its average volume of 6,909,673. ConocoPhillips has a 12 month low of $81.34 and a 12 month high of $135.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $108.38 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. The stock's 50-day moving average price is $98.53 and its 200-day moving average price is $103.06.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts' consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.64%. ConocoPhillips's payout ratio is presently 40.05%.

Analyst Ratings Changes

A number of research analysts recently issued reports on COP shares. Truist Financial boosted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Piper Sandler lowered their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. cut their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Morgan Stanley reduced their target price on shares of ConocoPhillips from $131.00 to $126.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Finally, Mizuho upgraded shares of ConocoPhillips from a "neutral" rating to an "outperform" rating and raised their price target for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $131.84.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.