Intact Investment Management Inc. Acquires Shares of 49,950 ConocoPhillips (NYSE:COP)

Intact Investment Management Inc. purchased a new stake in ConocoPhillips (NYSE:COP) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 49,950 shares of the energy producer’s stock, valued at approximately $5,259,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips during the 3rd quarter worth about $26,000. Stephens Consulting LLC lifted its position in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the third quarter worth approximately $31,000. Ruedi Wealth Management Inc. raised its stake in ConocoPhillips by 150.0% in the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 150 shares during the last quarter. Finally, Y.D. More Investments Ltd purchased a new position in ConocoPhillips in the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on COP. Barclays raised their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday. BMO Capital Markets increased their price objective on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $126.00 target price (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Finally, Sanford C. Bernstein decreased their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $137.47.

ConocoPhillips Stock Performance

NYSE:COP opened at $108.86 on Tuesday. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18. The company has a fifty day simple moving average of $107.84 and a two-hundred day simple moving average of $112.66. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The company has a market cap of $125.29 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 0.88 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips’s revenue was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.16 EPS. As a group, equities analysts anticipate that ConocoPhillips will post 7.78 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 2.87%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 27.59%.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips 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.