Public Sector Pension Investment Board Has $21.34 Million Stake in ConocoPhillips (NYSE:COP)

Public Sector Pension Investment Board cut its stake in shares of ConocoPhillips (NYSE:COP) by 0.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 202,672 shares of the energy producer’s stock after selling 809 shares during the quarter. Public Sector Pension Investment Board’s holdings in ConocoPhillips were worth $21,337,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in COP. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of ConocoPhillips by 4.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 554,708 shares of the energy producer’s stock valued at $58,400,000 after purchasing an additional 26,106 shares during the last quarter. Providence Capital Advisors LLC raised its position in shares of ConocoPhillips by 9.1% during the third quarter. Providence Capital Advisors LLC now owns 52,600 shares of the energy producer’s stock worth $5,538,000 after purchasing an additional 4,400 shares during the period. First Commonwealth Financial Corp PA grew its holdings in shares of ConocoPhillips by 18.3% during the third quarter. First Commonwealth Financial Corp PA now owns 2,841 shares of the energy producer’s stock valued at $299,000 after buying an additional 439 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in ConocoPhillips during the 3rd quarter worth approximately $35,000. Finally, CreativeOne Wealth LLC raised its position in ConocoPhillips by 20.6% in the 3rd quarter. CreativeOne Wealth LLC now owns 9,906 shares of the energy producer’s stock valued at $1,043,000 after buying an additional 1,690 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.6 %

Shares of ConocoPhillips stock opened at $107.42 on Thursday. The company has a 50-day simple moving average of $108.86 and a two-hundred day simple moving average of $110.98. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The stock has a market capitalization of $123.63 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating 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 company had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same period last year, the firm posted $2.16 earnings per share. ConocoPhillips’s revenue was down 8.5% compared to the same quarter last year. On average, analysts anticipate that ConocoPhillips will post 7.76 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be paid a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Friday, November 8th. ConocoPhillips’s payout ratio is currently 37.10%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Scotiabank lowered their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $126.00 price target (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. BMO Capital Markets boosted their target price on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Finally, UBS Group decreased their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.63.

ConocoPhillips Company 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.