ConocoPhillips $COP Stake Lifted by TD Asset Management Inc

TD Asset Management Inc increased its stake in shares of ConocoPhillips (NYSE:COP) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 518,484 shares of the energy producer’s stock after buying an additional 25,785 shares during the quarter. TD Asset Management Inc’s holdings in ConocoPhillips were worth $48,535,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in COP. Strive Asset Management LLC acquired a new position in ConocoPhillips during the 3rd quarter worth $28,000. KERR FINANCIAL PLANNING Corp acquired a new position in ConocoPhillips during the 3rd quarter worth $28,000. Board of the Pension Protection Fund acquired a new position in ConocoPhillips during the 4th quarter worth $28,000. BNP Paribas acquired a new position in ConocoPhillips during the 2nd quarter worth $33,000. Finally, Optima Capital LLC acquired a new position in ConocoPhillips during the 4th quarter worth $34,000. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on COP. Freedom Capital lowered ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Zacks Research lowered ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Piper Sandler boosted their price target on ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Wells Fargo & Company boosted their price target on ConocoPhillips from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Finally, Raymond James Financial reduced their price target on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a research report on Monday, June 1st. Seventeen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.48.

ConocoPhillips Trading Down 1.8%

Shares of ConocoPhillips stock opened at $117.10 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. The firm has a market cap of $142.66 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 1.32 and a beta of 0.11. The business has a fifty day simple moving average of $122.08 and a 200-day simple moving average of $109.43. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. The business had revenue of $15.76 billion during 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 company’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.09 earnings per share. On average, equities analysts forecast that ConocoPhillips will post 10.03 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

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

Insider Activity at ConocoPhillips

In other news, EVP Nicholas G. Olds sold 6,994 shares of the business’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $127.06, for a total transaction of $888,657.64. Following the sale, the executive vice president directly owned 5,395 shares of the company’s stock, valued at $685,488.70. The trade was a 56.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Andrew D. Lundquist sold 34,500 shares of the business’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $119.68, for a total value of $4,128,960.00. Following the sale, the senior vice president directly owned 17,469 shares in the company, valued at $2,090,689.92. This trade represents a 66.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 694,891 shares of company stock valued at $88,594,092 over the last ninety days. Company insiders own 0.09% of the company’s stock.

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.