Toronto Dominion Bank Purchases 177,133 Shares of ConocoPhillips (NYSE:COP)

Toronto Dominion Bank increased its holdings in ConocoPhillips (NYSE:COP) by 20.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,036,139 shares of the energy producer’s stock after acquiring an additional 177,133 shares during the period. Toronto Dominion Bank owned about 0.08% of ConocoPhillips worth $63,525,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Nixon Capital LLC bought a new position in ConocoPhillips in the 2nd quarter valued at $9,260,000. Mitchell Capital Management Co. grew its position in ConocoPhillips by 7.6% during the second quarter. Mitchell Capital Management Co. now owns 19,945 shares of the energy producer’s stock valued at $1,215,000 after buying an additional 1,410 shares during the period. Avantax Planning Partners Inc. grew its position in ConocoPhillips by 2.6% during the second quarter. Avantax Planning Partners Inc. now owns 7,683 shares of the energy producer’s stock valued at $468,000 after buying an additional 196 shares during the period. Gulf International Bank UK Ltd purchased a new stake in ConocoPhillips during the second quarter worth about $16,884,000. Finally, Connors Investor Services Inc. bought a new stake in ConocoPhillips in the second quarter worth about $3,937,000. 78.47% of the stock is owned by institutional investors.

Shares of NYSE COP opened at $56.94 on Wednesday. The business has a 50-day moving average of $56.17 and a 200-day moving average of $55.98. The firm has a market capitalization of $76.25 billion, a price-to-earnings ratio of 49.09, a PEG ratio of 1.56 and a beta of 1.77. The company has a current ratio of 2.11, a quick ratio of 1.97 and a debt-to-equity ratio of 0.42. ConocoPhillips has a 12 month low of $27.53 and a 12 month high of $63.57.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Tuesday, August 3rd. The energy producer reported $1.27 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.17. The business had revenue of $10.21 billion during the quarter, compared to analysts’ expectations of $10.44 billion. ConocoPhillips had a net margin of 5.93% and a return on equity of 5.64%. During the same quarter in the previous year, the company earned ($0.92) EPS. On average, analysts predict that ConocoPhillips will post 4.79 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Monday, July 26th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, July 23rd. This represents a $1.72 dividend on an annualized basis and a yield of 3.02%. ConocoPhillips’s payout ratio is -177.32%.

In related news, Director R A. Walker acquired 18,000 shares of ConocoPhillips stock in a transaction dated Monday, August 9th. The shares were purchased at an average cost of $55.50 per share, with a total value of $999,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jody Freeman sold 3,334 shares of the stock in a transaction dated Monday, June 28th. The shares were sold at an average price of $59.65, for a total value of $198,873.10. Following the sale, the director now owns 8,251 shares of the company’s stock, valued at $492,172.15. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

COP has been the subject of several research analyst reports. Truist Securities raised their price target on shares of ConocoPhillips from $63.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, July 1st. Royal Bank of Canada boosted their target price on ConocoPhillips from $73.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, July 1st. Citigroup lifted their price objective on ConocoPhillips from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 1st. Sanford C. Bernstein boosted their price objective on ConocoPhillips from $63.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, June 21st. Finally, Morgan Stanley cut their target price on shares of ConocoPhillips from $85.00 to $82.00 and set an “overweight” rating for the company in a research report on Monday, August 23rd. Two equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $70.81.

ConocoPhillips Profile

ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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