Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 486,307 ConocoPhillips (NYSE:COP)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in ConocoPhillips (NYSE:COP) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 486,307 shares of the energy producer’s stock, valued at approximately $48,227,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Albion Financial Group UT lifted its position in ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares during the last quarter. Centricity Wealth Management LLC bought a new position in shares of ConocoPhillips during the fourth quarter valued at approximately $27,000. Truvestments Capital LLC bought a new position in shares of ConocoPhillips during the third quarter valued at approximately $31,000. RPg Family Wealth Advisory LLC bought a new position in shares of ConocoPhillips during the third quarter valued at approximately $35,000. Finally, Marshall Investment Management LLC bought a new position in shares of ConocoPhillips during the fourth quarter valued at approximately $36,000. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $157.00 to $124.00 in a report on Monday, February 10th. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a report on Thursday, January 30th. Morgan Stanley started coverage on ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price for the company. Wells Fargo & Company decreased their price objective on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Finally, Piper Sandler decreased 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. Two 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.47.

ConocoPhillips Trading Up 2.3 %

NYSE COP opened at $97.64 on Thursday. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18. The stock has a market cap of $124.24 billion, a P/E ratio of 12.53, a P/E/G ratio of 0.79 and a beta of 1.12. The stock’s fifty day moving average price is $99.34 and its 200-day moving average price is $104.03. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

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

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.20%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Insider Activity at ConocoPhillips

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

ConocoPhillips Company 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.