Intact Investment Management Inc. Has $7.51 Million Stake in ConocoPhillips (NYSE:COP)

Intact Investment Management Inc. boosted its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 32.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,500 shares of the energy producer's stock after purchasing an additional 17,400 shares during the period. Intact Investment Management Inc.'s holdings in ConocoPhillips were worth $7,509,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Murphy & Mullick Capital Management Corp bought a new position in ConocoPhillips in the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC bought a new stake in ConocoPhillips in the fourth quarter valued at approximately $27,000. 10Elms LLP acquired a new stake in ConocoPhillips during the 4th quarter worth $28,000. Crowley Wealth Management Inc. acquired a new stake in shares of ConocoPhillips during the fourth quarter worth about $32,000. Finally, Garde Capital Inc. acquired a new stake in ConocoPhillips during the 1st quarter worth approximately $35,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

ConocoPhillips stock traded down $2.87 during mid-day trading on Monday, reaching $91.82. The company had a trading volume of 9,718,757 shares, compared to its average volume of 7,498,708. The business has a fifty day simple moving average of $89.65 and a 200 day simple moving average of $95.40. The company has a market cap of $116.08 billion, a P/E ratio of 11.67, a P/E/G ratio of 2.56 and a beta of 0.61. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $118.40. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The company had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter last year, the business posted $2.05 EPS. On average, equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.40%. ConocoPhillips's dividend payout ratio (DPR) is presently 39.64%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Piper Sandler cut their price target on ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company cut their target price on shares of ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating for the company in a research note on Wednesday, May 14th. Raymond James Financial reaffirmed an "outperform" rating and set a $109.00 price objective (up from $103.00) on shares of ConocoPhillips in a research report on Tuesday, May 20th. UBS Group lowered their target price on ConocoPhillips from $116.00 to $111.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Finally, Susquehanna cut their price objective on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a report on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $121.30.

Insider Activity at ConocoPhillips

In related news, EVP Kirk L. Johnson purchased 5,300 shares of ConocoPhillips stock in a transaction on Monday, June 16th. The shares were purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the transaction, the executive vice president now owns 14,527 shares of the company's stock, valued at approximately $1,369,024.48. This represents a 57.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.24% of the stock is owned by company insiders.

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.