Ilmarinen Mutual Pension Insurance Co Buys New Stake in ConocoPhillips (NYSE:COP)

Ilmarinen Mutual Pension Insurance Co purchased a new stake in shares of ConocoPhillips (NYSE:COP) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 177,500 shares of the energy producer’s stock, valued at approximately $17,603,000.

A number of other institutional investors have also recently made changes to their positions in COP. Vanguard Group Inc. increased its position in shares of ConocoPhillips by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after purchasing an additional 12,751,120 shares during the last quarter. Wellington Management Group LLP increased its position 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 valued at $3,280,725,000 after acquiring an additional 5,240,016 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of ConocoPhillips by 401.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock worth $438,690,000 after acquiring an additional 3,541,504 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of ConocoPhillips by 13.7% during the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock worth $2,792,521,000 after purchasing an additional 3,397,360 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in ConocoPhillips in the 4th quarter worth about $232,859,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 9.5 %

ConocoPhillips stock opened at $86.18 on Friday. ConocoPhillips has a 1-year low of $85.55 and a 1-year high of $135.18. The business has a fifty day moving average price of $98.53 and a 200-day moving average price of $103.14. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a market capitalization of $108.95 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 0.79 and a beta of 0.83.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 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%. Equities research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Analysts Set New Price Targets

COP has been the topic of a number of analyst reports. Raymond James cut ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $157.00 to $124.00 in a research note on Monday, February 10th. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a research note on Thursday, January 30th. Wells Fargo & Company lowered their target price on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. TD Cowen assumed coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 target price for the company. Finally, Morgan Stanley lowered their target price on ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $132.95.

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.