Border to Coast Pensions Partnership Ltd Grows Stock Holdings in ConocoPhillips $COP

Border to Coast Pensions Partnership Ltd boosted its stake in shares of ConocoPhillips (NYSE:COP) by 42.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 478,554 shares of the energy producer’s stock after buying an additional 142,141 shares during the quarter. ConocoPhillips accounts for approximately 1.1% of Border to Coast Pensions Partnership Ltd’s portfolio, making the stock its 26th largest holding. Border to Coast Pensions Partnership Ltd’s holdings in ConocoPhillips were worth $63,363,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Yoder Wealth Management Inc. acquired a new stake in shares of ConocoPhillips in the 1st quarter worth approximately $238,000. Braun Stacey Associates Inc. boosted its position in ConocoPhillips by 10.6% during the first quarter. Braun Stacey Associates Inc. now owns 190,268 shares of the energy producer’s stock worth $25,115,000 after purchasing an additional 18,203 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in ConocoPhillips during the first quarter worth $33,808,000. Sterling Capital Management LLC grew its holdings in ConocoPhillips by 2.8% in the first quarter. Sterling Capital Management LLC now owns 6,245 shares of the energy producer’s stock valued at $824,000 after purchasing an additional 172 shares during the last quarter. Finally, Cambient Family Office LLC grew its holdings in ConocoPhillips by 31.1% in the first quarter. Cambient Family Office LLC now owns 5,608 shares of the energy producer’s stock valued at $740,000 after purchasing an additional 1,329 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

NYSE COP opened at $105.63 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87. The business has a fifty day moving average of $117.29 and a 200-day moving average of $111.81. The stock has a market cap of $128.69 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 1.17 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The business had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.09 earnings per share. As a group, analysts predict that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio is 57.05%.

Analyst Upgrades and Downgrades

COP has been the subject of several research reports. Morgan Stanley cut their price target on ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating for the company in a research note on Friday. Mizuho increased their price objective on shares of ConocoPhillips from $136.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Jefferies Financial Group raised their target price on shares of ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a report on Monday, May 18th. Capital One Financial cut their target price on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a research report on Monday, May 18th. Finally, Raymond James Financial reduced their price target on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a report on Monday, June 1st. Eighteen research 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 MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $134.04.

Insider Activity

In other ConocoPhillips news, CEO Ryan Michael Lance sold 113,221 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the sale, the chief executive officer directly owned 350,000 shares of the company’s stock, valued at $46,448,500. This trade represents a 24.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is owned by corporate insiders.

ConocoPhillips Profile

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.