Connor Clark & Lunn Investment Management Ltd. Sells 40,733 Shares of ConocoPhillips $COP

Connor Clark & Lunn Investment Management Ltd. decreased its position in ConocoPhillips (NYSE:COP) by 18.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 178,275 shares of the energy producer’s stock after selling 40,733 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in ConocoPhillips were worth $15,998,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of COP. Financial Network Wealth Advisors LLC lifted its stake in ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after buying an additional 222 shares during the period. Stone House Investment Management LLC purchased a new position in ConocoPhillips during the first quarter worth about $31,000. Bogart Wealth LLC increased its stake in ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after buying an additional 182 shares during the last quarter. Activest Wealth Management boosted its stake in shares of ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after buying an additional 232 shares during the last quarter. Finally, IMA Advisory Services Inc. bought a new stake in ConocoPhillips during the first quarter worth $37,000. Institutional investors own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

In related news, Director William H. Mcraven acquired 5,768 shares of the stock in a transaction on Monday, November 10th. The stock was acquired at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the purchase, the director owned 5,768 shares of the company’s stock, valued at $499,970.24. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.24% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $88.28 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The stock has a fifty day moving average of $91.36 and a 200 day moving average of $91.99. The firm has a market capitalization of $110.26 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 2.36 and a beta of 0.58. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.20. The firm had revenue of $15.03 billion during the quarter, compared to analyst estimates of $14.51 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.78 EPS. As a group, research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a dividend of $0.84 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Monday, November 17th. This represents a $3.36 dividend on an annualized basis and a yield of 3.8%. ConocoPhillips’s dividend payout ratio is 47.52%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on COP. Jefferies Financial Group lowered their target price on ConocoPhillips from $129.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. BMO Capital Markets raised their target price on ConocoPhillips from $115.00 to $117.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. dropped their price target on shares of ConocoPhillips from $115.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Evercore ISI cut their target price on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research note on Monday, October 6th. Eighteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $114.54.

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.