TD Asset Management Inc Sells 14,531 Shares of ConocoPhillips (NYSE:COP)

Key Points

• TD Asset Management Inc reduced its stake in ConocoPhillips by 2.5%, selling 14,531 shares during the first quarter, leaving them with 577,788 shares valued at approximately $60.7 million.
• Analysts have varied price targets for ConocoPhillips, with Raymond James raising theirs to $117.00, while Citigroup has reduced it to $115.00.
• ConocoPhillips announced a quarterly dividend of $0.78 per share, reflecting an annualized dividend yield of 3.29% and a payout ratio of 39.64%.

TD Asset Management Inc reduced its position in ConocoPhillips (NYSE:COP - Free Report) by 2.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 577,788 shares of the energy producer's stock after selling 14,531 shares during the quarter. TD Asset Management Inc's holdings in ConocoPhillips were worth $60,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. HB Wealth Management LLC increased its position in ConocoPhillips by 20.8% in the first quarter. HB Wealth Management LLC now owns 47,249 shares of the energy producer's stock worth $4,962,000 after buying an additional 8,136 shares during the last quarter. Nikko Asset Management Americas Inc. increased its position in ConocoPhillips by 1.5% in the first quarter. Nikko Asset Management Americas Inc. now owns 18,176 shares of the energy producer's stock worth $1,909,000 after buying an additional 270 shares during the last quarter. Mediolanum International Funds Ltd increased its position in ConocoPhillips by 23.1% in the first quarter. Mediolanum International Funds Ltd now owns 560,208 shares of the energy producer's stock worth $57,348,000 after buying an additional 104,984 shares during the last quarter. Phoenix Financial Ltd. increased its position in ConocoPhillips by 14.9% in the first quarter. Phoenix Financial Ltd. now owns 12,549 shares of the energy producer's stock worth $1,322,000 after buying an additional 1,624 shares during the last quarter. Finally, Trilogy Capital Inc. increased its position in ConocoPhillips by 4.8% in the first quarter. Trilogy Capital Inc. now owns 30,148 shares of the energy producer's stock worth $3,166,000 after buying an additional 1,369 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

COP stock traded down $0.49 during mid-day trading on Thursday, hitting $96.18. 1,791,052 shares of the stock were exchanged, compared to its average volume of 8,157,904. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. The business has a fifty day moving average price of $91.64 and a 200 day moving average price of $94.29. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The stock has a market capitalization of $121.59 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 2.55 and a beta of 0.61.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly 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 return on equity of 16.54% and a net margin of 16.02%. The firm had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. On average, sell-side analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.24%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is currently 39.64%.

Insider Transactions at ConocoPhillips

In other news, EVP Kirk L. Johnson purchased 5,300 shares of the company's stock in a transaction on Monday, June 16th. The stock was purchased at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the purchase, the executive vice president directly owned 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Raymond James Financial raised their price target on ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Mizuho cut their price target on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Barclays cut their price target on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Piper Sandler reaffirmed an "overweight" rating and issued a $123.00 price target (up from $113.00) on shares of ConocoPhillips in a report on Tuesday, July 15th. Finally, Susquehanna cut their price target on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $121.33.

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.