Scotia Capital Inc. Has $817,000 Stock Position in ConocoPhillips (NYSE:COP)

Scotia Capital Inc. grew its stake in shares of ConocoPhillips (NYSE:COP) by 70.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,233 shares of the energy producer’s stock after acquiring an additional 3,393 shares during the period. Scotia Capital Inc.’s holdings in ConocoPhillips were worth $817,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in ConocoPhillips by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after purchasing an additional 12,751,120 shares during the period. Invesco Ltd. lifted its holdings in shares of ConocoPhillips by 37.1% during the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock worth $1,544,101,000 after buying an additional 4,211,939 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of ConocoPhillips by 401.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock valued at $438,690,000 after acquiring an additional 3,541,504 shares during the period. Geode Capital Management LLC grew its stake in shares of ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock valued at $2,792,521,000 after acquiring an additional 3,397,360 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in ConocoPhillips during the fourth quarter worth about $232,859,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on COP shares. Morgan Stanley cut 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. Wells Fargo & Company reduced their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Piper Sandler dropped their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $157.00 to $124.00 in a research report on Monday, February 10th. Finally, The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a research report on Thursday, January 30th. 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $130.79.

ConocoPhillips Stock Up 3.7 %

NYSE:COP opened at $86.36 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a one year low of $79.88 and a one year high of $132.61. The firm’s 50 day simple moving average is $96.51 and its 200 day simple moving average is $102.04. The company has a market cap of $109.17 billion, a PE ratio of 11.09, a P/E/G ratio of 0.79 and a beta of 0.83.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) 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%. On average, research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently declared 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 was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.61%. ConocoPhillips’s dividend payout ratio (DPR) is currently 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.