Cibc World Market Inc. Buys 185,683 Shares of ConocoPhillips $COP

Cibc World Market Inc. boosted its position in shares of ConocoPhillips (NYSE:COP) by 56.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 512,884 shares of the energy producer’s stock after acquiring an additional 185,683 shares during the period. Cibc World Market Inc.’s holdings in ConocoPhillips were worth $48,011,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. KERR FINANCIAL PLANNING Corp bought a new position in ConocoPhillips in the third quarter worth $28,000. Board of the Pension Protection Fund bought a new stake in ConocoPhillips in the 4th quarter valued at $28,000. Strive Asset Management LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $28,000. BNP Paribas acquired a new position in shares of ConocoPhillips in the 2nd quarter valued at $33,000. Finally, Optima Capital LLC bought a new position in shares of ConocoPhillips during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP stock opened at $119.03 on Friday. ConocoPhillips has a 52 week low of $85.23 and a 52 week high of $135.87. The stock has a market capitalization of $145.01 billion, a PE ratio of 20.21, a PEG ratio of 1.32 and a beta of 0.11. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The stock’s fifty day moving average is $122.32 and its 200-day moving average is $109.38.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The business had revenue of $15.76 billion during 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 firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.09 earnings per share. Equities research analysts expect that ConocoPhillips will post 10.03 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio is presently 57.05%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on COP shares. Capital One Financial lowered their target price on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research note on Monday, May 18th. JPMorgan Chase & Co. lifted their price objective on ConocoPhillips from $98.00 to $103.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Jefferies Financial Group upped their price objective on ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Roth Mkm cut ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 target price for the company. in a report on Tuesday, February 17th. Finally, Freedom Capital downgraded ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Seventeen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $134.48.

Insider Buying and Selling at ConocoPhillips

In related news, SVP Heather G. Hrap sold 2,654 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $119.68, for a total value of $317,630.72. Following the completion of the sale, the senior vice president owned 5,663 shares of the company’s stock, valued at $677,747.84. This trade represents a 31.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ryan Michael Lance sold 113,221 shares of the company’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total value of $15,025,558.91. Following the transaction, the chief executive officer directly owned 350,000 shares in the company, valued at approximately $46,448,500. This represents a 24.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 694,891 shares of company stock valued at $88,594,092 over the last three months. Insiders own 0.09% of the company’s stock.

ConocoPhillips Profile

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.