ConocoPhillips (NYSE:COP) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp grew its stake in ConocoPhillips (NYSE:COP - Free Report) by 7.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 316,853 shares of the energy producer's stock after purchasing an additional 21,008 shares during the quarter. Mackenzie Financial Corp's holdings in ConocoPhillips were worth $33,276,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in shares of ConocoPhillips by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock worth $4,546,706,000 after buying an additional 5,549,078 shares during the period. Capital International Investors increased its stake in ConocoPhillips by 4.9% during the 4th quarter. Capital International Investors now owns 31,287,113 shares of the energy producer's stock valued at $3,101,989,000 after purchasing an additional 1,473,027 shares in the last quarter. Geode Capital Management LLC increased its stake in ConocoPhillips by 13.7% during the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock valued at $2,792,521,000 after purchasing an additional 3,397,360 shares in the last quarter. Invesco Ltd. increased its stake in ConocoPhillips by 37.1% during the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock valued at $1,544,101,000 after purchasing an additional 4,211,939 shares in the last quarter. Finally, Northern Trust Corp increased its stake in ConocoPhillips by 27.6% during the 4th quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer's stock valued at $1,364,364,000 after purchasing an additional 2,971,661 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on COP shares. Citigroup reduced their price target on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, June 11th. Mizuho reduced their price target on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Piper Sandler reiterated an "overweight" rating and issued a $123.00 price target (up from $113.00) on shares of ConocoPhillips in a research note on Tuesday, July 15th. Bank of America reduced their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Finally, Wells Fargo & Company restated an "overweight" rating and set a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.33.

ConocoPhillips Trading Down 2.7%

COP stock traded down $2.59 during trading on Friday, hitting $92.75. The company had a trading volume of 6,348,613 shares, compared to its average volume of 8,173,449. The firm has a market capitalization of $117.25 billion, a P/E ratio of 11.79, a PEG ratio of 2.52 and a beta of 0.61. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08. The company has a 50 day simple moving average of $91.82 and a 200-day simple moving average of $94.23. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. The company had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. During the same period in the prior year, the business earned $2.05 EPS. As a group, research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is currently 39.64%.

Insider Buying and Selling at ConocoPhillips

In other news, EVP Kirk L. Johnson purchased 5,300 shares of the stock in a transaction dated Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the acquisition, the executive vice president owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company's stock.

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.