Cidel Asset Management Inc. Decreases Holdings in ConocoPhillips (NYSE:COP)

Cidel Asset Management Inc. reduced its position in ConocoPhillips (NYSE:COP) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 153,310 shares of the energy producer’s stock after selling 4,998 shares during the quarter. Cidel Asset Management Inc.’s holdings in ConocoPhillips were worth $15,204,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Albion Financial Group UT increased its position in ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after buying an additional 228 shares in the last quarter. Values First Advisors Inc. acquired a new stake in ConocoPhillips in the third quarter worth about $26,000. Reston Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the third quarter worth about $31,000. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips during the third quarter valued at about $31,000. Finally, Global Wealth Strategies & Associates raised its position in shares of ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 153 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ConocoPhillips

In other news, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction dated Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now owns 38,000 shares in the company, valued at $3,716,400. The trade was a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price target for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Morgan Stanley began coverage on ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price for the company. Evercore ISI reiterated an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Barclays increased their price objective on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company dropped their target price on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $135.89.

ConocoPhillips Stock Down 1.6 %

COP opened at $98.34 on Friday. The company has a fifty day moving average of $101.25 and a two-hundred day moving average of $106.28. The stock has a market capitalization of $113.18 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 0.77 and a beta of 1.18. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.16 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, research analysts expect that ConocoPhillips will post 8.3 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be given a dividend of $0.78 per share. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.17%. ConocoPhillips’s dividend payout ratio (DPR) is 40.05%.

ConocoPhillips 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.