Cibc World Market Inc. Has $48.01 Million Position in ConocoPhillips $COP

Cibc World Market Inc. boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 56.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 512,884 shares of the energy producer’s stock after buying an additional 185,683 shares during the quarter. Cibc World Market Inc.’s holdings in ConocoPhillips were worth $48,011,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Duncan Williams Asset Management LLC grew its stake in shares of ConocoPhillips by 4.4% during the fourth quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer’s stock worth $222,000 after purchasing an additional 100 shares during the period. Wedge Capital Management L L P NC grew its position in shares of ConocoPhillips by 4.1% during the 4th quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock worth $241,000 after buying an additional 101 shares during the period. Strategic Blueprint LLC increased its stake in shares of ConocoPhillips by 1.3% in the 4th quarter. Strategic Blueprint LLC now owns 8,018 shares of the energy producer’s stock valued at $751,000 after acquiring an additional 101 shares during the last quarter. Chesapeake Wealth Management raised its position in shares of ConocoPhillips by 1.5% in the 4th quarter. Chesapeake Wealth Management now owns 7,160 shares of the energy producer’s stock valued at $670,000 after acquiring an additional 103 shares during the period. Finally, Oregon Pacific Wealth Management LLC raised its position in shares of ConocoPhillips by 4.5% in the 4th quarter. Oregon Pacific Wealth Management LLC now owns 2,414 shares of the energy producer’s stock valued at $226,000 after acquiring an additional 104 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.0%

Shares of ConocoPhillips stock opened at $119.03 on Friday. The firm has a market cap of $145.01 billion, a PE ratio of 20.21, a P/E/G ratio of 1.32 and a beta of 0.11. The business’s 50 day simple moving average is $122.32 and its 200 day simple moving average is $109.38. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 52-week low of $85.23 and a 52-week high of $135.87.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.09 EPS. On average, analysts predict that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of ConocoPhillips from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday, February 6th. Wolfe Research lifted their price target on shares of ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Roth Mkm lowered shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 price target for the company. in a report on Tuesday, February 17th. Raymond James Financial dropped their price objective on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Mizuho lifted their target price on ConocoPhillips from $136.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Seventeen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.48.

Insiders Place Their Bets

In other news, CEO Ryan Michael Lance sold 506,800 shares of the stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $127.26, for a total transaction of $64,495,368.00. Following the completion of the transaction, the chief executive officer directly owned 6,835 shares in the company, valued at $869,822.10. This represents a 98.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Heather G. Hrap sold 2,654 shares of ConocoPhillips stock in a transaction dated 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 directly owned 5,663 shares in the company, valued at approximately $677,747.84. This represents a 31.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 694,891 shares of company stock valued at $88,594,092 in the last quarter. Company insiders own 0.09% of the company’s stock.

ConocoPhillips Company 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.