Canopy Partners LLC Has $811,000 Position in ConocoPhillips (NYSE:COP)

Canopy Partners LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 9.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,174 shares of the energy producer’s stock after acquiring an additional 674 shares during the quarter. Canopy Partners LLC’s holdings in ConocoPhillips were worth $811,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC raised its holdings in ConocoPhillips by 164.8% during the third quarter. Kovitz Investment Group Partners LLC now owns 59,776 shares of the energy producer’s stock valued at $6,293,000 after buying an additional 37,201 shares in the last quarter. EP Wealth Advisors LLC raised its stake in shares of ConocoPhillips by 22.6% in the 3rd quarter. EP Wealth Advisors LLC now owns 38,690 shares of the energy producer’s stock valued at $4,073,000 after acquiring an additional 7,131 shares in the last quarter. iA Global Asset Management Inc. raised its stake in shares of ConocoPhillips by 9.1% in the 3rd quarter. iA Global Asset Management Inc. now owns 24,335 shares of the energy producer’s stock valued at $2,562,000 after acquiring an additional 2,033 shares in the last quarter. National Bank of Canada FI lifted its holdings in ConocoPhillips by 15.7% in the 3rd quarter. National Bank of Canada FI now owns 735,557 shares of the energy producer’s stock worth $77,439,000 after purchasing an additional 99,972 shares during the last quarter. Finally, DF Dent & Co. Inc. boosted its position in ConocoPhillips by 88.4% during the third quarter. DF Dent & Co. Inc. now owns 6,223 shares of the energy producer’s stock worth $655,000 after purchasing an additional 2,920 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

COP has been the topic of a number of research analyst reports. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $157.00 to $124.00 in a research note on Monday, February 10th. TD Cowen started coverage on shares of ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective on the stock. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a research note on Thursday, January 30th. Wells Fargo & Company cut their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. reduced their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $132.95.

ConocoPhillips Stock Down 9.5 %

Shares of NYSE:COP opened at $86.18 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a market cap of $108.95 billion, a price-to-earnings ratio of 11.06, a P/E/G ratio of 0.79 and a beta of 0.83. The company has a 50 day moving average of $98.53 and a 200-day moving average of $103.06. ConocoPhillips has a one year low of $81.34 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

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.