ConocoPhillips (NYSE:COP) Position Trimmed by Industrial Alliance Investment Management Inc.

Industrial Alliance Investment Management Inc. lessened its holdings in shares of ConocoPhillips (NYSE:COP – Get Rating) by 25.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 10,044 shares of the energy producer’s stock after selling 3,414 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in ConocoPhillips were worth $1,028,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of COP. Fairfield Bush & CO. purchased a new position in ConocoPhillips during the 1st quarter valued at about $31,000. Cetera Investment Advisers grew its stake in shares of ConocoPhillips by 4.0% in the 1st quarter. Cetera Investment Advisers now owns 25,399 shares of the energy producer’s stock valued at $2,540,000 after buying an additional 968 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of ConocoPhillips by 1.9% in the 1st quarter. Baird Financial Group Inc. now owns 512,126 shares of the energy producer’s stock valued at $51,213,000 after buying an additional 9,313 shares in the last quarter. Zions Bancorporation N.A. grew its stake in shares of ConocoPhillips by 59.1% in the 1st quarter. Zions Bancorporation N.A. now owns 1,810 shares of the energy producer’s stock valued at $181,000 after buying an additional 672 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in shares of ConocoPhillips by 21.3% in the 1st quarter. Brown Brothers Harriman & Co. now owns 14,063 shares of the energy producer’s stock valued at $1,406,000 after buying an additional 2,465 shares in the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In related news, Director R A. Walker purchased 4,800 shares of the stock in a transaction on Wednesday, February 22nd. The shares were purchased at an average cost of $103.00 per share, for a total transaction of $494,400.00. Following the completion of the transaction, the director now directly owns 27,600 shares of the company’s stock, valued at approximately $2,842,800. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Roth Capital reissued a “buy” rating on shares of ConocoPhillips in a research note on Wednesday, February 1st. Wells Fargo & Company boosted their price target on ConocoPhillips from $154.00 to $156.00 and gave the company an “overweight” rating in a research note on Tuesday, January 10th. Capital One Financial lowered ConocoPhillips from an “overweight” rating to an “equal weight” rating and set a $102.00 target price for the company. in a report on Friday, February 3rd. Societe Generale lowered ConocoPhillips from a “hold” rating to a “sell” rating and boosted their target price for the stock from $106.00 to $114.00 in a report on Monday, November 21st. They noted that the move was a valuation call. Finally, Truist Financial boosted their target price on ConocoPhillips from $148.00 to $151.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $136.86.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $96.40 on Friday. The business has a fifty day simple moving average of $111.85 and a 200 day simple moving average of $115.83. The company has a current ratio of 1.46, a quick ratio of 1.36 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $117.49 billion, a price-to-earnings ratio of 6.64, a PEG ratio of 0.50 and a beta of 1.29. ConocoPhillips has a one year low of $78.30 and a one year high of $138.49.

ConocoPhillips (NYSE:COP – Get Rating) last issued its earnings results on Thursday, February 2nd. The energy producer reported $2.71 EPS for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.01). The firm had revenue of $19.26 billion during the quarter, compared to analyst estimates of $18.16 billion. ConocoPhillips had a net margin of 22.74% and a return on equity of 35.30%. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.27 earnings per share. Sell-side analysts expect that ConocoPhillips will post 10.99 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Wednesday, March 29th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Tuesday, March 28th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.12%. ConocoPhillips’s payout ratio is 14.06%.

About ConocoPhillips

(Get Rating)

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.