Regal Partners Ltd Takes $5.86 Million Position in ConocoPhillips $COP

Regal Partners Ltd bought a new stake in shares of ConocoPhillips (NYSE:COP) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 44,410 shares of the energy producer’s stock, valued at approximately $5,862,000.

Several other large investors have also added to or reduced their stakes in COP. Capital International Investors boosted its holdings in shares of ConocoPhillips by 5.9% during the 4th quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock worth $4,527,230,000 after buying an additional 2,714,663 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of ConocoPhillips by 229.2% in the 4th quarter. AQR Capital Management LLC now owns 3,595,177 shares of the energy producer’s stock valued at $336,544,000 after acquiring an additional 2,503,156 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of ConocoPhillips by 6.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock valued at $3,880,151,000 after acquiring an additional 2,350,645 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of ConocoPhillips by 46,105.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,310,281 shares of the energy producer’s stock valued at $304,957,000 after acquiring an additional 2,305,281 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in ConocoPhillips by 3,775.8% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,893,340 shares of the energy producer’s stock worth $249,921,000 after acquiring an additional 1,844,490 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Barclays raised their price target on shares of ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Morgan Stanley cut their price objective on shares of ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating on the stock in a research report on Friday, June 26th. Piper Sandler raised their target price on ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Susquehanna boosted their target price on ConocoPhillips from $152.00 to $155.00 and gave the company a “positive” rating in a research report on Tuesday, July 21st. Finally, Scotiabank upped their price target on ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $134.16.

ConocoPhillips Stock Performance

Shares of COP stock opened at $114.07 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The firm has a fifty day simple moving average of $113.10 and a two-hundred day simple moving average of $114.60. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.87. The firm has a market capitalization of $138.97 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 1.40 and a beta of 0.12.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period last year, the firm earned $2.09 earnings per share. Analysts forecast that ConocoPhillips will post 9.2 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio is currently 57.05%.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.