TD Waterhouse Canada Inc. Reduces Stock Position in ConocoPhillips $COP

TD Waterhouse Canada Inc. reduced its position in ConocoPhillips (NYSE:COP) by 10.3% in the second quarter, Holdings Channel.com reports. The fund owned 57,131 shares of the energy producer’s stock after selling 6,580 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in ConocoPhillips were worth $5,901,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in COP. Premier Path Wealth Partners LLC increased its holdings in shares of ConocoPhillips by 3.8% in the second quarter. Premier Path Wealth Partners LLC now owns 8,906 shares of the energy producer’s stock worth $926,000 after buying an additional 326 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in ConocoPhillips by 3.0% in the second quarter. Concurrent Investment Advisors LLC now owns 89,594 shares of the energy producer’s stock valued at $9,314,000 after acquiring an additional 2,597 shares in the last quarter. Prosperitas Financial LLC boosted its stake in shares of ConocoPhillips by 11.7% during the 2nd quarter. Prosperitas Financial LLC now owns 2,209 shares of the energy producer’s stock valued at $230,000 after purchasing an additional 231 shares in the last quarter. NEOS Investment Management LLC grew its holdings in shares of ConocoPhillips by 12.8% during the 2nd quarter. NEOS Investment Management LLC now owns 199,993 shares of the energy producer’s stock worth $20,791,000 after acquiring an additional 22,698 shares during the period. Finally, AXQ Capital LP purchased a new stake in ConocoPhillips in the second quarter worth $2,501,000. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Jefferies Financial Group raised their price objective on ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, May 18th. BMO Capital Markets dropped their target price on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Royal Bank Of Canada set a $130.00 price target on shares of ConocoPhillips in a research report on Monday, June 22nd. Wall Street Zen raised ConocoPhillips from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Argus upped their price target on shares of ConocoPhillips from $136.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.29.

Insider Buying and Selling at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the transaction, the senior vice president owned 9,593 shares in the company, valued at $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.09% of the stock is owned by insiders.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $134.23 on Monday. The company has a market capitalization of $161.26 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 1.41 and a beta of 0.13. The firm’s 50-day moving average is $120.15 and its 200 day moving average is $119.49. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $137.42. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. The company had revenue of $19.52 billion during the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm’s revenue for the quarter was up 32.4% on a year-over-year basis. During the same quarter last year, the business posted $1.42 EPS. Research analysts predict that ConocoPhillips will post 10.54 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, August 17th. ConocoPhillips’s dividend payout ratio (DPR) is 44.44%.

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.