Ontario Teachers Pension Plan Board Sells 21,214 Shares of ConocoPhillips (NYSE:COP)

Ontario Teachers Pension Plan Board trimmed its stake in ConocoPhillips (NYSE:COP - Free Report) by 56.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,147 shares of the energy producer's stock after selling 21,214 shares during the period. Ontario Teachers Pension Plan Board's holdings in ConocoPhillips were worth $1,700,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in ConocoPhillips by 35.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer's stock valued at $4,097,473,000 after purchasing an additional 8,479,963 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of ConocoPhillips by 4.6% in the 2nd quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer's stock worth $1,132,430,000 after acquiring an additional 438,241 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position in ConocoPhillips by 19.3% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,811,289 shares of the energy producer's stock valued at $717,093,000 after acquiring an additional 1,101,685 shares in the last quarter. Boston Partners increased its holdings in ConocoPhillips by 10.3% during the 1st quarter. Boston Partners now owns 4,451,796 shares of the energy producer's stock worth $567,111,000 after purchasing an additional 415,878 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of ConocoPhillips by 10.1% in the second quarter. Clearbridge Investments LLC now owns 3,546,526 shares of the energy producer's stock worth $405,652,000 after purchasing an additional 326,597 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Price Performance

Shares of COP traded up $1.60 during midday trading on Thursday, hitting $115.03. 1,509,331 shares of the company traded hands, compared to its average volume of 5,847,367. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The firm has a market cap of $132.39 billion, a P/E ratio of 13.49, a PEG ratio of 0.92 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The stock has a 50-day moving average of $108.57 and a 200-day moving average of $111.48.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion during the quarter, compared to analysts' expectations of $13.97 billion. During the same period in the previous year, the business earned $2.16 earnings per share. The firm's revenue was down 8.5% on a year-over-year basis. As a group, sell-side analysts predict that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be given a $0.78 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 2.71%. This is an increase from ConocoPhillips's previous quarterly dividend of $0.58. ConocoPhillips's payout ratio is presently 37.10%.

Analysts Set New Price Targets

COP has been the subject of several recent research reports. Royal Bank of Canada reiterated an "outperform" rating and set a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Truist Financial reduced their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a "buy" rating for the company in a research note on Monday, September 30th. Barclays raised their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Susquehanna increased their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a "positive" rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company restated a "sector perform" rating on shares of ConocoPhillips in a research note on Friday, October 18th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of "Moderate Buy" and a consensus target price of $137.63.

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.