Mackenzie Financial Corp Buys 5,409 Shares of ConocoPhillips (NYSE:COP)

Mackenzie Financial Corp boosted its stake in ConocoPhillips (NYSE:COP) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,185,030 shares of the energy producer’s stock after purchasing an additional 5,409 shares during the period. Mackenzie Financial Corp’s holdings in ConocoPhillips were worth $137,546,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Orion Capital Management LLC bought a new stake in ConocoPhillips in the 3rd quarter worth approximately $27,000. West Branch Capital LLC grew its position in ConocoPhillips by 87.8% in the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares during the period. RVW Wealth LLC bought a new stake in ConocoPhillips in the 3rd quarter worth approximately $28,000. Oliver Lagore Vanvalin Investment Group grew its position in ConocoPhillips by 63.1% in the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after purchasing an additional 111 shares during the period. Finally, Fairfield Bush & CO. bought a new stake in shares of ConocoPhillips during the 1st quarter valued at $31,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.7 %

Shares of COP stock opened at $130.25 on Tuesday. The stock has a market cap of $153.23 billion, a P/E ratio of 14.38, a PEG ratio of 2.85 and a beta of 1.24. ConocoPhillips has a 52 week low of $95.70 and a 52 week high of $135.18. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The company’s fifty day simple moving average is $119.24 and its two-hundred day simple moving average is $116.86.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping the consensus estimate of $2.08 by $0.32. The business had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same quarter in the previous year, the company earned $2.71 EPS. Analysts predict that ConocoPhillips will post 9.21 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were paid a $0.78 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.12 annualized dividend and a yield of 2.40%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is presently 25.61%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COP. Mizuho reissued a “neutral” rating and set a $139.00 price objective (up previously from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Raymond James cut their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Scotiabank boosted their price objective on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Susquehanna cut their price objective on shares of ConocoPhillips from $152.00 to $133.00 and set a “positive” rating for the company in a research report on Friday, January 26th. Finally, Truist Financial cut their price objective on shares of ConocoPhillips from $173.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $140.59.

Insiders Place Their Bets

In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the sale, the senior vice president now owns 2,654 shares in the company, valued at $293,399.70. The disclosure for this sale can be found here. Insiders have sold a total of 700,775 shares of company stock worth $87,615,169 in the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

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.