Intact Investment Management Inc. Trims Stock Holdings in ConocoPhillips $COP

Intact Investment Management Inc. lowered its holdings in ConocoPhillips (NYSE:COPFree Report) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 88,200 shares of the energy producer’s stock after selling 4,200 shares during the period. Intact Investment Management Inc.’s holdings in ConocoPhillips were worth $8,256,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AlphaStar Capital Management LLC raised its stake in ConocoPhillips by 14.2% during the fourth quarter. AlphaStar Capital Management LLC now owns 3,629 shares of the energy producer’s stock valued at $340,000 after buying an additional 452 shares in the last quarter. Oak Harbor Wealth Partners LLC raised its stake in ConocoPhillips by 15.7% during the fourth quarter. Oak Harbor Wealth Partners LLC now owns 10,752 shares of the energy producer’s stock valued at $1,006,000 after buying an additional 1,461 shares in the last quarter. Greenfield Savings Bank raised its stake in ConocoPhillips by 3.2% during the fourth quarter. Greenfield Savings Bank now owns 9,305 shares of the energy producer’s stock valued at $871,000 after buying an additional 287 shares in the last quarter. PKO Investment Management Joint Stock Co raised its stake in ConocoPhillips by 6.8% during the fourth quarter. PKO Investment Management Joint Stock Co now owns 34,419 shares of the energy producer’s stock valued at $3,222,000 after buying an additional 2,200 shares in the last quarter. Finally, CX Institutional raised its stake in ConocoPhillips by 15.2% during the fourth quarter. CX Institutional now owns 96,386 shares of the energy producer’s stock valued at $9,023,000 after buying an additional 12,753 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other news, EVP Nicholas G. Olds sold 6,994 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $127.06, for a total transaction of $888,657.64. Following the sale, the executive vice president directly owned 5,395 shares in the company, valued at approximately $685,488.70. This represents a 56.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kelly Brunetti Rose sold 7,700 shares of the stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total value of $1,001,231.00. Following the sale, the senior vice president owned 25,284 shares in the company, valued at $3,287,678.52. The trade was a 23.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 734,891 shares of company stock worth $93,345,692. Corporate insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Zacks Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Wells Fargo & Company upped their price objective on ConocoPhillips from $132.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. UBS Group upped their price objective on ConocoPhillips from $130.00 to $144.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Argus upped their price objective on ConocoPhillips from $111.00 to $128.00 and gave the company a “strong-buy” rating in a research note on Friday, February 13th. Finally, Scotiabank upped their price objective on ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.04.

Read Our Latest Report on COP

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ConocoPhillips Stock Down 0.0%

Shares of ConocoPhillips stock opened at $123.19 on Monday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The business’s 50 day simple moving average is $122.17 and its 200-day simple moving average is $104.44. The stock has a market capitalization of $150.15 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 1.74 and a beta of 0.14. ConocoPhillips has a twelve month low of $84.28 and a twelve month high of $135.87.

ConocoPhillips (NYSE:COPGet Free Report) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.21. The business had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.09 EPS. Equities research analysts forecast that ConocoPhillips will post 9.47 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, May 11th. ConocoPhillips’s dividend payout ratio is presently 57.05%.

ConocoPhillips Profile

(Free Report)

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

Further Reading

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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