ConocoPhillips (NYSE:COP) Shares Sold by Cidel Asset Management Inc.

Cidel Asset Management Inc. reduced its stake in shares of ConocoPhillips (NYSE:COP) by 3.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,310 shares of the energy producer’s stock after selling 4,998 shares during the period. Cidel Asset Management Inc.’s holdings in ConocoPhillips were worth $15,204,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in COP. State Street Corp boosted its stake in ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after buying an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of ConocoPhillips by 20.2% during the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after acquiring an additional 5,240,016 shares during the period. Fisher Asset Management LLC boosted its position in shares of ConocoPhillips by 59.7% during the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after acquiring an additional 4,656,040 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of ConocoPhillips by 5,422.3% in the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock valued at $482,996,000 after purchasing an additional 4,504,653 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in ConocoPhillips by 401.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock worth $438,690,000 after purchasing an additional 3,541,504 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

NYSE:COP opened at $98.34 on Friday. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The company has a fifty day simple moving average of $101.25 and a two-hundred day simple moving average of $106.28. The company has a quick ratio of 1.16, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a market cap of $113.18 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping 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 anticipate that ConocoPhillips will post 8.3 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.17%. ConocoPhillips’s dividend payout ratio (DPR) is 40.05%.

Insider Activity at ConocoPhillips

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

Analyst Ratings Changes

COP has been the subject of several analyst reports. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price target for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Barclays increased their price objective on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Wells Fargo & Company reduced their target price on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. Finally, Piper Sandler reduced their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $135.89.

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.