Mackenzie Financial Corp Lowers Stake in ConocoPhillips (NYSE:COP)

Mackenzie Financial Corp decreased its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 74.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 295,845 shares of the energy producer's stock after selling 876,144 shares during the quarter. Mackenzie Financial Corp's holdings in ConocoPhillips were worth $29,339,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Orrstown Financial Services Inc. raised its holdings in ConocoPhillips by 3.0% in the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer's stock worth $331,000 after purchasing an additional 96 shares in the last quarter. Principle Wealth Partners LLC increased its position in shares of ConocoPhillips by 0.3% in the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer's stock valued at $3,695,000 after acquiring an additional 100 shares during the period. Arlington Trust Co LLC boosted its position in ConocoPhillips by 1.2% in the fourth quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer's stock valued at $857,000 after buying an additional 102 shares during the last quarter. Gray Wealth Management Inc. boosted its holdings in shares of ConocoPhillips by 5.0% in the 4th quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer's stock valued at $215,000 after acquiring an additional 104 shares during the last quarter. Finally, Plancorp LLC boosted its holdings in shares of ConocoPhillips by 2.7% in the 4th quarter. Plancorp LLC now owns 4,018 shares of the energy producer's stock valued at $399,000 after acquiring an additional 104 shares during the last quarter. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Down 1.1%

COP traded down $0.98 during trading on Wednesday, reaching $84.57. 6,785,093 shares of the company's stock were exchanged, compared to its average volume of 7,408,890. The stock has a market capitalization of $106.91 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. The firm has a fifty day moving average price of $91.49 and a two-hundred day moving average price of $97.89. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. ConocoPhillips has a one year low of $79.88 and a one year high of $118.40.

ConocoPhillips (NYSE:COP - Get Free Report) last announced 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 net margin of 16.23% and a return on equity of 17.26%. The firm had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. During the same quarter in the prior year, the business earned $2.05 earnings per share. As a group, equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is presently 39.64%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on COP. Royal Bank of Canada decreased their price objective on shares of ConocoPhillips from $133.00 to $120.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Bank of America dropped their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Scotiabank dropped their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a report on Friday, April 11th. Susquehanna dropped their target price 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. Finally, Morgan Stanley raised their price objective on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $121.89.

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.