ConocoPhillips (NYSE:COP) Shares Bought by Intact Investment Management Inc.

Intact Investment Management Inc. increased its holdings in ConocoPhillips (NYSE:COP) by 8.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,100 shares of the energy producer’s stock after purchasing an additional 4,150 shares during the quarter. Intact Investment Management Inc.’s holdings in ConocoPhillips were worth $5,365,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in COP. Albion Financial Group UT raised its holdings in shares of ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of ConocoPhillips in the 4th quarter worth approximately $27,000. Truvestments Capital LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter worth approximately $31,000. Global Wealth Strategies & Associates raised its holdings 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 worth $34,000 after purchasing an additional 153 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter worth approximately $35,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

COP stock opened at $96.27 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $122.49 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18. The firm has a 50 day moving average of $99.26 and a two-hundred day moving average of $103.97.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping 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%. As a group, equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio is 40.05%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $132.00 to $134.00 in a report on Monday, December 16th. TD Cowen assumed coverage on shares of ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 price target on the stock. Barclays cut their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Wells Fargo & Company cut their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Finally, The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.