Intact Investment Management Inc. Takes Position in ConocoPhillips (NYSE:COP)

Intact Investment Management Inc. purchased a new position in shares of ConocoPhillips (NYSE:COP) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 49,950 shares of the energy producer’s stock, valued at approximately $5,259,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Values First Advisors Inc. purchased a new stake in shares of ConocoPhillips in the third quarter valued at approximately $26,000. Stephens Consulting LLC boosted its position in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the 3rd quarter worth $31,000. Ruedi Wealth Management Inc. grew its stake in shares of ConocoPhillips by 150.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after purchasing an additional 150 shares during the period. Finally, Y.D. More Investments Ltd acquired a new stake in shares of ConocoPhillips in the second quarter valued at about $35,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on COP. Truist Financial lowered their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. UBS Group dropped their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Sanford C. Bernstein lowered their target price on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. JPMorgan Chase & Co. restated a “neutral” rating and set a $126.00 target price (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $137.47.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

ConocoPhillips Trading Up 0.9 %

Shares of COP stock opened at $108.86 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The firm’s 50 day moving average price is $107.84 and its two-hundred day moving average price is $112.66. The stock has a market cap of $125.29 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 0.88 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the prior year, the company earned $2.16 EPS. The firm’s revenue was down 8.5% on a year-over-year basis. On average, analysts anticipate that ConocoPhillips will post 7.78 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be issued a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is presently 27.59%.

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.