Alaska Permanent Fund Corp Invests $143,000 in ConocoPhillips (NYSE:COP)

Alaska Permanent Fund Corp bought a new position in ConocoPhillips (NYSE:COP) during the 1st quarter, HoldingsChannel reports. The fund bought 1,123 shares of the energy producer’s stock, valued at approximately $143,000.

Other large investors have also made changes to their positions in the company. Orion Capital Management LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter worth about $27,000. West Branch Capital LLC grew its holdings in ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after acquiring an additional 108 shares during the last quarter. Cooksen Wealth LLC bought a new stake in ConocoPhillips during the 4th quarter worth about $27,000. Sachetta LLC bought a new stake in ConocoPhillips during the 4th quarter worth about $27,000. Finally, Cape Investment Advisory Inc. grew its holdings in ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after acquiring an additional 121 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on COP. Morgan Stanley increased their price objective on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Truist Financial increased their price objective on shares of ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Piper Sandler increased their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Finally, Royal Bank of Canada upped their target price on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.18.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the sale, the executive vice president now directly owns 14,522 shares in the company, valued at approximately $1,836,161.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the completion of the transaction, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the transaction, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $111.34 on Friday. The company has a market capitalization of $130.22 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 1.98 and a beta of 1.22. The firm’s 50 day simple moving average is $119.76 and its 200 day simple moving average is $117.47. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. ConocoPhillips has a fifty-two week low of $99.35 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, topping the consensus estimate of $1.99 by $0.04. The firm had revenue of $14.48 billion for the quarter, compared to the consensus estimate of $14.72 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. As a group, sell-side analysts forecast that ConocoPhillips will post 8.91 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.80%. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

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.