Bank of Montreal Can Has $244.18 Million Stake in ConocoPhillips (NYSE:COP)

Bank of Montreal Can increased its stake in ConocoPhillips (NYSE:COP) by 1.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,122,547 shares of the energy producer’s stock after purchasing an additional 31,328 shares during the quarter. Bank of Montreal Can owned approximately 0.18% of ConocoPhillips worth $244,178,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in COP. Cardinal Capital Management Inc. acquired a new position in ConocoPhillips in the 4th quarter valued at $13,468,000. Harbor Investment Advisory LLC grew its position in shares of ConocoPhillips by 2.2% in the first quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock valued at $1,234,000 after purchasing an additional 212 shares during the last quarter. First Trust Direct Indexing L.P. increased its stake in shares of ConocoPhillips by 5.6% in the first quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock worth $3,320,000 after purchasing an additional 1,390 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of ConocoPhillips during the 2nd quarter worth about $30,021,000. Finally, EP Wealth Advisors LLC boosted its stake in ConocoPhillips by 19.1% during the 1st quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock valued at $3,640,000 after purchasing an additional 4,578 shares during the period. Institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the transaction, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Sanford C. Bernstein dropped their price target on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Raymond James reaffirmed a “strong-buy” rating and set a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Scotiabank reduced their price target on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Wells Fargo & Company dropped their price objective on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.29.

ConocoPhillips Trading Down 0.2 %

COP stock opened at $109.69 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The company has a market cap of $127.38 billion, a P/E ratio of 12.42, a PEG ratio of 0.80 and a beta of 1.22. The business has a fifty day moving average of $109.66 and a 200-day moving average of $116.58.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same period in the prior year, the company posted $1.84 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts expect that ConocoPhillips will post 8.41 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 26.27%.

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.