Intact Investment Management Inc. Has $5.37 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Intact Investment Management Inc. grew its holdings in ConocoPhillips (NYSE:COP) by 8.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 54,100 shares of the energy producer’s stock after acquiring an additional 4,150 shares during the period. Intact Investment Management Inc.’s holdings in ConocoPhillips were worth $5,365,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Albion Financial Group UT increased its position in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the 4th quarter worth about $27,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter worth about $31,000. Global Wealth Strategies & Associates increased its position in shares of ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP opened at $96.27 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a twelve month low of $86.81 and a twelve month high of $135.18. The firm’s 50 day moving average price is $99.26 and its two-hundred day moving average price is $103.97. The firm has a market cap of $122.49 billion, a P/E ratio of 12.36, a PEG ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating 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, analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Insider Transactions at ConocoPhillips

In other news, Director Arjun N. Murti purchased 2,500 shares of the company’s stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. The trade was a 13.16 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the transaction, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

COP has been the topic of a number of research analyst reports. UBS Group decreased their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Truist Financial increased their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Evercore ISI reissued an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Finally, Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.05.

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.