TD Asset Management Inc Sells 53,941 Shares of ConocoPhillips $COP

TD Asset Management Inc lowered its position in ConocoPhillips (NYSE:COP) by 9.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 523,847 shares of the energy producer’s stock after selling 53,941 shares during the period. TD Asset Management Inc’s holdings in ConocoPhillips were worth $47,010,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of COP. Financial Network Wealth Advisors LLC raised its stake in shares of ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after acquiring an additional 222 shares during the last quarter. Stone House Investment Management LLC bought a new position in ConocoPhillips in the 1st quarter worth approximately $31,000. Garde Capital Inc. bought a new position in ConocoPhillips in the 1st quarter worth approximately $35,000. IMA Advisory Services Inc. bought a new position in ConocoPhillips in the 1st quarter worth approximately $37,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its position in ConocoPhillips by 418.6% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock worth $38,000 after purchasing an additional 293 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of ConocoPhillips in a research report on Wednesday, October 8th. Susquehanna dropped their target price on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a research report on Wednesday, July 23rd. Evercore ISI dropped their target price on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research report on Monday, October 6th. Roth Capital dropped their target price on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $117.00 target price (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Seventeen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $116.78.

ConocoPhillips Price Performance

Shares of COP stock opened at $86.83 on Friday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $115.38. The firm has a market capitalization of $108.45 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 2.35 and a beta of 0.62. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The firm has a fifty day moving average of $94.19 and a 200-day moving average of $92.16.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the previous year, the business earned $1.98 EPS. The firm’s revenue was up 4.3% on a year-over-year basis. On average, equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.6%. ConocoPhillips’s payout ratio is 41.88%.

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.