ConocoPhillips $COP Shares Purchased by Cibc World Market Inc.

Cibc World Market Inc. raised its stake in ConocoPhillips (NYSE:COP) by 7.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 327,201 shares of the energy producer’s stock after purchasing an additional 22,566 shares during the period. Cibc World Market Inc.’s holdings in ConocoPhillips were worth $30,950,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Navalign LLC grew its position in shares of ConocoPhillips by 1.1% in the 2nd quarter. Navalign LLC now owns 9,918 shares of the energy producer’s stock worth $890,000 after acquiring an additional 108 shares in the last quarter. Greenfield Savings Bank raised its position in shares of ConocoPhillips by 1.2% during the 3rd quarter. Greenfield Savings Bank now owns 9,018 shares of the energy producer’s stock valued at $853,000 after acquiring an additional 108 shares in the last quarter. Perennial Investment Advisors LLC lifted its stake in ConocoPhillips by 2.8% during the second quarter. Perennial Investment Advisors LLC now owns 4,097 shares of the energy producer’s stock worth $368,000 after purchasing an additional 112 shares during the last quarter. FAS Wealth Partners Inc. boosted its holdings in ConocoPhillips by 0.9% in the second quarter. FAS Wealth Partners Inc. now owns 12,154 shares of the energy producer’s stock worth $1,091,000 after purchasing an additional 112 shares during the period. Finally, Strategic Blueprint LLC increased its stake in ConocoPhillips by 1.4% during the third quarter. Strategic Blueprint LLC now owns 7,917 shares of the energy producer’s stock valued at $749,000 after purchasing an additional 112 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 500,708 shares of the firm’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the completion of the transaction, the chief executive officer owned 325,972 shares of the company’s stock, valued at $30,152,410. This trade represents a 60.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.24% of the stock is currently owned by company insiders.

ConocoPhillips Trading Up 3.5%

Shares of NYSE:COP opened at $111.24 on Thursday. The company has a 50 day moving average of $97.63 and a 200-day moving average of $94.01. The company has a current ratio of 1.30, a quick ratio of 1.14 and a debt-to-equity ratio of 0.35. The firm has a market cap of $137.46 billion, a P/E ratio of 17.55 and a beta of 0.32. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $111.44.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 5th. The energy producer reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). The company had revenue of $13.86 billion for the quarter, compared to analyst estimates of $14.35 billion. ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. ConocoPhillips’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.98 EPS. As a group, analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Wednesday, February 18th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, February 18th. ConocoPhillips’s payout ratio is currently 53.00%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on COP shares. Mizuho raised their price target on shares of ConocoPhillips from $120.00 to $121.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Johnson Rice downgraded ConocoPhillips from an “accumulate” rating to a “hold” rating and decreased their target price for the company from $108.00 to $105.00 in a research note on Friday, December 5th. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Sanford C. Bernstein reduced their price objective on ConocoPhillips from $116.00 to $98.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. Finally, BMO Capital Markets upped their price objective on ConocoPhillips from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Seventeen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $115.00.

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.