TD Asset Management Inc Has $48.54 Million Stock Position in ConocoPhillips $COP

TD Asset Management Inc boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 5.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 518,484 shares of the energy producer’s stock after buying an additional 25,785 shares during the period. TD Asset Management Inc’s holdings in ConocoPhillips were worth $48,535,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Cibc World Market Inc. raised its position in ConocoPhillips by 56.7% during the fourth quarter. Cibc World Market Inc. now owns 512,884 shares of the energy producer’s stock valued at $48,011,000 after buying an additional 185,683 shares during the period. Sivia Capital Partners LLC raised its position in ConocoPhillips by 47.5% during the fourth quarter. Sivia Capital Partners LLC now owns 7,170 shares of the energy producer’s stock valued at $671,000 after buying an additional 2,308 shares during the period. REAP Financial Group LLC raised its position in ConocoPhillips by 14.0% during the fourth quarter. REAP Financial Group LLC now owns 2,545 shares of the energy producer’s stock valued at $238,000 after buying an additional 312 shares during the period. WCG Wealth Advisors LLC raised its position in ConocoPhillips by 124.2% during the fourth quarter. WCG Wealth Advisors LLC now owns 53,344 shares of the energy producer’s stock valued at $4,994,000 after buying an additional 29,553 shares during the period. Finally, Phillips Wealth Planners LLC raised its position in ConocoPhillips by 5.7% during the fourth quarter. Phillips Wealth Planners LLC now owns 2,316 shares of the energy producer’s stock valued at $225,000 after buying an additional 125 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Ryan Michael Lance sold 113,221 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the completion of the sale, the chief executive officer owned 350,000 shares in the company, valued at $46,448,500. This represents a 24.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nicholas G. Olds sold 6,994 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $127.06, for a total value of $888,657.64. Following the sale, the executive vice president owned 5,395 shares of the company’s stock, valued at approximately $685,488.70. The trade was a 56.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 694,891 shares of company stock worth $88,594,092 over the last 90 days. Company insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

COP has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on ConocoPhillips from $98.00 to $103.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Argus upped their target price on ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. The Goldman Sachs Group upped their target price on ConocoPhillips from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Truist Financial set a $128.00 target price on ConocoPhillips in a research report on Friday, May 1st. Finally, Capital One Financial dropped their target price on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research report on Monday, May 18th. Seventeen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.48.

ConocoPhillips Stock Performance

COP opened at $117.10 on Friday. The company has a market cap of $142.66 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 1.32 and a beta of 0.11. The stock has a 50-day moving average of $122.08 and a 200-day moving average of $109.43. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. The company had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.09 EPS. As a group, equities research analysts forecast that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were paid a dividend of $0.84 per share. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 2.9%. ConocoPhillips’s dividend payout ratio is presently 57.05%.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.