ConocoPhillips (NYSE:COP) Stake Raised by Cibc World Markets Corp

Cibc World Markets Corp raised its holdings in shares of ConocoPhillips (NYSE:COP) by 29.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,596 shares of the energy producer’s stock after acquiring an additional 46,837 shares during the quarter. Cibc World Markets Corp’s holdings in ConocoPhillips were worth $20,290,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Tidal Investments LLC grew its position in ConocoPhillips by 42.7% during the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock valued at $10,902,000 after purchasing an additional 31,011 shares in the last quarter. Leavell Investment Management Inc. boosted its stake in shares of ConocoPhillips by 59.8% during the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock valued at $1,901,000 after buying an additional 7,174 shares during the period. Brookstone Capital Management grew its holdings in shares of ConocoPhillips by 4.5% during the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after acquiring an additional 383 shares in the last quarter. Prospera Financial Services Inc increased its stake in shares of ConocoPhillips by 23.6% in the third quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock worth $7,488,000 after acquiring an additional 13,595 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of ConocoPhillips by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock worth $262,094,000 after acquiring an additional 46,621 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Up 0.5 %

Shares of ConocoPhillips stock opened at $99.42 on Tuesday. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18. The company’s fifty day simple moving average is $99.22 and its 200-day simple moving average is $103.65. The company has a market cap of $126.50 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 0.79 and a beta of 1.12. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping 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%. As a group, sell-side analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Insiders Place Their Bets

In related news, Director Arjun N. Murti bought 2,500 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, with a total value of $239,675.00. Following the acquisition, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. JPMorgan Chase & Co. lowered their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. TD Cowen started coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 target price for the company. Finally, Morgan Stanley initiated coverage on shares of ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.05.

About ConocoPhillips

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.