National Bank of Canada FI Has $90.05 Million Stock Holdings in ConocoPhillips $COP

National Bank of Canada FI trimmed its holdings in ConocoPhillips (NYSE:COP) by 35.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,003,523 shares of the energy producer’s stock after selling 541,202 shares during the quarter. National Bank of Canada FI’s holdings in ConocoPhillips were worth $90,053,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vestmark Advisory Solutions Inc. grew its stake in shares of ConocoPhillips by 87.1% during the first quarter. Vestmark Advisory Solutions Inc. now owns 9,694 shares of the energy producer’s stock valued at $1,018,000 after purchasing an additional 4,512 shares during the last quarter. Ethic Inc. lifted its holdings in ConocoPhillips by 22.0% during the 1st quarter. Ethic Inc. now owns 23,217 shares of the energy producer’s stock worth $2,447,000 after buying an additional 4,182 shares in the last quarter. Tocqueville Asset Management L.P. lifted its holdings in ConocoPhillips by 113.3% during the 1st quarter. Tocqueville Asset Management L.P. now owns 84,310 shares of the energy producer’s stock worth $8,854,000 after buying an additional 44,790 shares in the last quarter. Raymond James Financial Inc. boosted its position in ConocoPhillips by 6.9% in the 1st quarter. Raymond James Financial Inc. now owns 2,510,865 shares of the energy producer’s stock valued at $263,691,000 after buying an additional 162,786 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of ConocoPhillips by 8.3% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 128,074 shares of the energy producer’s stock valued at $13,450,000 after buying an additional 9,787 shares during the period. Institutional investors own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director William H. Mcraven purchased 5,768 shares of the stock in a transaction on Monday, November 10th. The stock was bought at an average cost of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the acquisition, the director directly owned 5,768 shares of the company’s stock, valued at $499,970.24. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.24% of the company’s stock.

ConocoPhillips Stock Down 1.2%

Shares of NYSE:COP opened at $95.58 on Monday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $106.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.32. The company has a market capitalization of $118.11 billion, a PE ratio of 13.52, a PEG ratio of 2.16 and a beta of 0.32. The company has a 50 day moving average price of $89.57 and a two-hundred day moving average price of $92.17.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The company had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.51 billion. During the same period last year, the firm posted $1.78 earnings per share. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. Analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were issued a dividend of $0.84 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a yield of 3.5%. The ex-dividend date was Monday, November 17th. ConocoPhillips’s dividend payout ratio is presently 47.52%.

Analyst Upgrades and Downgrades

COP has been the topic of several research reports. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Sanford C. Bernstein upped their target price on shares of ConocoPhillips from $115.00 to $116.00 and gave the company an “outperform” rating in a research report on Friday, November 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $115.00 target price on shares of ConocoPhillips in a research note on Monday, November 24th. Capital One Financial boosted their price target on shares of ConocoPhillips from $111.00 to $112.00 in a research note on Friday, October 3rd. Finally, Wolfe Research restated an “outperform” rating and issued a $131.00 price objective on shares of ConocoPhillips in a report on Thursday, November 6th. Nineteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $114.54.

About ConocoPhillips

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.