AustralianSuper Pty Ltd Takes $15.92 Million Position in ConocoPhillips (NYSE:COP)

AustralianSuper Pty Ltd purchased a new stake in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 160,563 shares of the energy producer’s stock, valued at approximately $15,923,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Cypress Capital Group increased its holdings in shares of ConocoPhillips by 0.5% during the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after acquiring an additional 96 shares in the last quarter. Orrstown Financial Services Inc. increased its holdings in shares of ConocoPhillips by 3.0% during the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock valued at $331,000 after acquiring an additional 96 shares in the last quarter. Smithfield Trust Co increased its holdings in shares of ConocoPhillips by 3.3% during the third quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock valued at $332,000 after acquiring an additional 100 shares in the last quarter. Principle Wealth Partners LLC increased its holdings in shares of ConocoPhillips by 0.3% during the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock valued at $3,695,000 after acquiring an additional 100 shares in the last quarter. Finally, Verus Capital Partners LLC increased its holdings in shares of ConocoPhillips by 2.0% during the third quarter. Verus Capital Partners LLC now owns 5,137 shares of the energy producer’s stock valued at $541,000 after acquiring an additional 102 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wells Fargo & Company reduced their price objective on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a report on Monday, February 10th. UBS Group reduced their price objective on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a report on Wednesday. Barclays reduced their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Finally, Truist Financial lifted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $133.56.

Insiders Place Their Bets

In other ConocoPhillips news, Director Arjun N. Murti purchased 2,500 shares of the company’s stock in a transaction on Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now directly owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by corporate insiders.

ConocoPhillips Trading Down 0.5 %

Shares of NYSE:COP opened at $96.39 on Friday. The stock has a 50 day moving average of $100.58 and a 200 day moving average of $105.85. The company has a market cap of $110.93 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. As a group, equities research analysts expect that ConocoPhillips will post 8.3 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be paid a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.24%. ConocoPhillips’s payout ratio is 40.05%.

About ConocoPhillips

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.