ConocoPhillips $COP Stock Position Increased by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its ConocoPhillips position by 1,389.5% in the third quarter, bringing its holdings to 850,987 shares valued at approximately $106.5 million. Institutional investors collectively own 82.36% of the company.
• ConocoPhillips reported quarterly EPS of $3.24, exceeding the $2.90 consensus estimate, while revenue rose 32.4% year over year to $19.52 billion. The company also pays a quarterly dividend of $0.84, representing a 2.3% annualized yield.
• COP shares recently traded near a 52-week high at $146.43, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $143.62.

TD Waterhouse Canada Inc. increased its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 1,389.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 850,987 shares of the energy producer's stock after acquiring an additional 793,856 shares during the period. TD Waterhouse Canada Inc. owned approximately 0.07% of ConocoPhillips worth $106,501,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. State Street Corp grew its position in ConocoPhillips by 73.2% during the second quarter. State Street Corp now owns 118,591,447 shares of the energy producer's stock valued at $12,328,767,000 after purchasing an additional 50,116,727 shares in the last quarter. Bank of America Corp DE bought a new position in ConocoPhillips during the second quarter worth $1,260,482,000. Primecap Management Co. CA acquired a new position in ConocoPhillips during the 2nd quarter valued at $1,204,726,000. Assenagon Asset Management S.A. lifted its position in ConocoPhillips by 1,181.0% in the third quarter. Assenagon Asset Management S.A. now owns 8,172,490 shares of the energy producer's stock worth $1,022,787,000 after purchasing an additional 7,534,536 shares during the period. Finally, Legal & General Group Plc bought a new position in ConocoPhillips during the second quarter worth about $716,151,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of COP traded up $4.70 during mid-day trading on Friday, hitting $146.43. The stock had a trading volume of 7,765,878 shares, compared to its average volume of 6,598,777. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $146.59. The business has a fifty day moving average price of $132.11 and a 200-day moving average price of $122.44. The firm has a market cap of $175.92 billion, a P/E ratio of 19.37, a PEG ratio of 1.41 and a beta of 0.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.34. The firm had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The business's quarterly revenue was up 32.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.42 earnings per share. On average, equities research analysts expect that ConocoPhillips will post 11.19 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued a $0.84 dividend. The ex-dividend date was Monday, August 17th. This represents a $3.36 annualized dividend and a dividend yield of 2.3%. ConocoPhillips's dividend payout ratio (DPR) is currently 44.44%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the sale, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company's stock.

Analyst Ratings Changes

COP has been the subject of a number of research reports. Roth Capital upgraded ConocoPhillips from a "neutral" rating to a "buy" rating and raised their target price for the company from $124.00 to $130.00 in a research note on Monday, June 22nd. Morgan Stanley boosted their price objective on shares of ConocoPhillips from $151.00 to $159.00 and gave the stock an "overweight" rating in a research note on Thursday. Barclays cut their target price on shares of ConocoPhillips from $155.00 to $150.00 and set an "overweight" rating for the company in a research note on Monday, August 17th. The Goldman Sachs Group dropped their price target on ConocoPhillips from $144.00 to $138.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Finally, Raymond James Financial reiterated an "underperform" rating and set a $168.00 target price on shares of ConocoPhillips in a research report on Monday, August 24th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, ConocoPhillips has a consensus rating of "Moderate Buy" and an average target price of $143.62.

ConocoPhillips Profile

ConocoPhillips NYSE: COP is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.

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