National Bank of Canada FI Cuts Position in ConocoPhillips (NYSE:COP)

National Bank of Canada FI lowered its position in shares of ConocoPhillips (NYSE:COP) by 8.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 294,198 shares of the energy producer’s stock after selling 28,593 shares during the quarter. National Bank of Canada FI’s holdings in ConocoPhillips were worth $34,596,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Orion Capital Management LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at about $27,000. West Branch Capital LLC raised its stake in shares of ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after purchasing an additional 108 shares during the period. Oliver Lagore Vanvalin Investment Group lifted its position in shares of ConocoPhillips by 63.1% during the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after purchasing an additional 111 shares in the last quarter. Spartan Planning & Wealth Management purchased a new position in shares of ConocoPhillips in the third quarter valued at $40,000. Finally, Milestone Investment Advisors LLC acquired a new stake in ConocoPhillips during the 3rd quarter valued at $46,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on COP. Mizuho reiterated a “neutral” rating and issued a $139.00 price objective (up previously from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Truist Financial lowered their price objective on ConocoPhillips from $170.00 to $160.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Piper Sandler upped their target price on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. UBS Group raised their price target on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Finally, Scotiabank upped their price target on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.76.

Insider Buying and Selling at ConocoPhillips

In related news, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the transaction, the executive vice president now owns 14,522 shares in the company, valued at $1,836,161.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the sale, the executive vice president now owns 14,522 shares in the company, valued at $1,836,161.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Heather G. Hrap sold 4,548 shares of ConocoPhillips stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value of $502,781.40. Following the transaction, the senior vice president now directly owns 2,654 shares in the company, valued at $293,399.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 700,775 shares of company stock valued at $87,615,169. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

COP stock traded up $1.53 during mid-day trading on Monday, reaching $123.76. The company had a trading volume of 2,297,415 shares, compared to its average volume of 5,331,988. The stock’s 50-day simple moving average is $123.85 and its two-hundred day simple moving average is $117.61. The stock has a market capitalization of $145.59 billion, a P/E ratio of 13.84, a P/E/G ratio of 2.69 and a beta of 1.25. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. ConocoPhillips has a one year low of $97.42 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The firm had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. During the same quarter in the prior year, the firm earned $2.71 EPS. Research analysts anticipate that ConocoPhillips will post 9.1 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be given a $0.78 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a yield of 2.52%. ConocoPhillips’s dividend payout ratio is presently 26.27%.

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.