Cidel Asset Management Inc. Has $27.88 Million Position in ConocoPhillips $COP

Key Points

• Cidel Asset Management boosted its ConocoPhillips stake by 41.6% in the first quarter, adding 62,073 shares and bringing its total holding to 211,202 shares worth about $27.88 million.
• ConocoPhillips reported better-than-expected Q1 earnings, with EPS of $1.89 versus estimates of $1.72 and revenue of $15.76 billion, while also declaring a $0.84 quarterly dividend that implies a 3.1% yield.
• Analyst sentiment remains constructive overall, with several firms raising price targets; the stock currently carries a Moderate Buy consensus and an average price target of $134.32.

Cidel Asset Management Inc. increased its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 41.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,202 shares of the energy producer's stock after purchasing an additional 62,073 shares during the period. ConocoPhillips makes up 1.5% of Cidel Asset Management Inc.'s portfolio, making the stock its 20th biggest position. Cidel Asset Management Inc.'s holdings in ConocoPhillips were worth $27,879,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in ConocoPhillips during the 4th quarter worth about $25,000. Strive Asset Management LLC bought a new stake in shares of ConocoPhillips in the third quarter valued at about $28,000. Board of the Pension Protection Fund acquired a new position in shares of ConocoPhillips during the fourth quarter worth about $28,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of ConocoPhillips during the third quarter worth about $28,000. Finally, Sfam LLC bought a new position in shares of ConocoPhillips during the fourth quarter worth about $34,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 0.4%

COP opened at $110.15 on Wednesday. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.87. The stock's fifty day simple moving average is $118.13 and its 200 day simple moving average is $111.67. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The stock has a market cap of $134.20 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 1.21 and a beta of 0.11.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating analysts' consensus estimates of $1.72 by $0.17. The business had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. ConocoPhillips's quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.09 EPS. As a group, research analysts expect that ConocoPhillips will post 10.03 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a $0.84 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 3.1%. ConocoPhillips's dividend payout ratio is presently 57.05%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wolfe Research lifted their target price on ConocoPhillips from $138.00 to $144.00 and gave the company an "outperform" rating in a research report on Monday, April 6th. Scotiabank raised their price target on shares of ConocoPhillips from $100.00 to $125.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 22nd. Freedom Capital downgraded shares of ConocoPhillips from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 6th. Barclays boosted their price objective on shares of ConocoPhillips from $136.00 to $155.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 26th. Finally, UBS Group increased their target price on shares of ConocoPhillips from $130.00 to $144.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Eighteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $134.32.

More ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Wall Street analyst coverage turned more bullish on ConocoPhillips, with one note highlighting higher price targets and a generally favorable outlook for the stock. This ConocoPhillips Analyst Turns Bullish; Here Are Top 5 Upgrades For Monday
• Positive Sentiment: Energy stocks broadly strengthened late Monday, suggesting improved sector sentiment that can support ConocoPhillips along with peers. Sector Update: Energy Stocks Rise Late Afternoon
• Positive Sentiment: Reports that ConocoPhillips is expanding its LNG reach across energy markets point to longer-term growth opportunities and diversification. Why Is ConocoPhillips NYSE: COP Expanding LNG Reach Across Energy Markets?
• Neutral Sentiment: Broader energy-market commentary continues to focus on oil-price volatility and sector concentration risks, which adds uncertainty but does not directly change ConocoPhillips’ outlook. XLE's Concentration Risk Meets Oil's Next Move: What to Monitor in June
• Negative Sentiment: One recent headline says ConocoPhillips is slipping as crude oil pressure builds, reflecting the near-term headwind from weaker oil prices. ConocoPhillips NYSE: COP Slips As Crude Oil Pressure Builds

Insider Buying and Selling at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 113,221 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the transaction, the chief executive officer owned 350,000 shares in the company, valued at approximately $46,448,500. This trade represents a 24.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.09% of the company's stock.

About ConocoPhillips

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.

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