ConocoPhillips (NYSE:COP) Shares Purchased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of ConocoPhillips (NYSE:COP) by 28.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 249,691 shares of the energy producer’s stock after acquiring an additional 55,421 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in ConocoPhillips were worth $24,762,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Tallon Kerry Patrick acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at approximately $511,000. Wedge Capital Management L L P NC grew its holdings in ConocoPhillips by 18.1% in the 4th quarter. Wedge Capital Management L L P NC now owns 2,561 shares of the energy producer’s stock worth $254,000 after buying an additional 393 shares in the last quarter. Diversify Wealth Management LLC increased its position in ConocoPhillips by 42.9% in the 4th quarter. Diversify Wealth Management LLC now owns 4,437 shares of the energy producer’s stock valued at $452,000 after acquiring an additional 1,331 shares during the period. Ballentine Partners LLC increased its position in ConocoPhillips by 24.0% in the 4th quarter. Ballentine Partners LLC now owns 17,289 shares of the energy producer’s stock valued at $1,715,000 after acquiring an additional 3,344 shares during the period. Finally, Crossmark Global Holdings Inc. raised its stake in ConocoPhillips by 8.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 95,815 shares of the energy producer’s stock valued at $9,502,000 after acquiring an additional 7,366 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 2.8%

NYSE:COP opened at $87.15 on Thursday. The stock has a fifty day simple moving average of $92.72 and a 200 day simple moving average of $98.69. The firm has a market capitalization of $110.17 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $119.72. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same period last year, the company posted $2.05 earnings per share. Sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.58%. The ex-dividend date is Monday, May 19th. ConocoPhillips’s payout ratio is 39.64%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Scotiabank lowered their price target on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. UBS Group lowered their target price on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. JPMorgan Chase & Co. reduced their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Barclays decreased their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Finally, Morgan Stanley boosted their target price on ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.95.

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.