ConocoPhillips (NYSE:COP) Shares Sold by National Bank of Canada FI

National Bank of Canada FI trimmed its stake in shares of ConocoPhillips (NYSE:COP) by 12.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 643,941 shares of the energy producer’s stock after selling 91,616 shares during the quarter. National Bank of Canada FI owned about 0.06% of ConocoPhillips worth $63,864,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Bridgewater Associates LP grew its position in shares of ConocoPhillips by 58.9% during the third quarter. Bridgewater Associates LP now owns 3,079 shares of the energy producer’s stock worth $324,000 after acquiring an additional 1,141 shares during the last quarter. Kestra Investment Management LLC acquired a new position in ConocoPhillips during the 3rd quarter valued at about $403,000. Benjamin Edwards Inc. grew its position in ConocoPhillips by 489.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 26,711 shares of the energy producer’s stock worth $2,814,000 after purchasing an additional 22,182 shares during the last quarter. Hilltop Holdings Inc. increased its stake in shares of ConocoPhillips by 56.9% in the third quarter. Hilltop Holdings Inc. now owns 22,908 shares of the energy producer’s stock valued at $2,412,000 after purchasing an additional 8,310 shares during the period. Finally, Investment Management Corp of Ontario raised its holdings in shares of ConocoPhillips by 47.7% during the third quarter. Investment Management Corp of Ontario now owns 38,710 shares of the energy producer’s stock valued at $4,075,000 after buying an additional 12,500 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on COP shares. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a research report on Thursday, January 30th. Piper Sandler lowered their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Morgan Stanley reduced their price objective on shares of ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. UBS Group lowered their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Finally, Barclays reduced their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.95.

ConocoPhillips Price Performance

NYSE COP opened at $105.35 on Wednesday. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18. The stock’s 50-day moving average price is $98.96 and its two-hundred day moving average price is $103.31. The company has a market cap of $134.05 billion, a PE ratio of 13.52, 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 issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 2.96%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

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.