TD Asset Management Inc Has $47.01 Million Position in ConocoPhillips $COP

TD Asset Management Inc reduced its holdings in ConocoPhillips (NYSE:COP) by 9.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 523,847 shares of the energy producer’s stock after selling 53,941 shares during the quarter. TD Asset Management Inc’s holdings in ConocoPhillips were worth $47,010,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Harbour Trust & Investment Management Co acquired a new stake in shares of ConocoPhillips in the second quarter valued at about $243,000. Axxcess Wealth Management LLC grew its position in shares of ConocoPhillips by 0.5% in the second quarter. Axxcess Wealth Management LLC now owns 48,087 shares of the energy producer’s stock valued at $4,315,000 after purchasing an additional 223 shares during the last quarter. Cornerstone Wealth Group LLC grew its position in shares of ConocoPhillips by 5.5% in the second quarter. Cornerstone Wealth Group LLC now owns 59,117 shares of the energy producer’s stock valued at $5,305,000 after purchasing an additional 3,066 shares during the last quarter. Heartland Bank & Trust Co grew its position in shares of ConocoPhillips by 97.2% in the second quarter. Heartland Bank & Trust Co now owns 6,861 shares of the energy producer’s stock valued at $616,000 after purchasing an additional 3,381 shares during the last quarter. Finally, NorthRock Partners LLC grew its position in ConocoPhillips by 17.9% during the second quarter. NorthRock Partners LLC now owns 15,861 shares of the energy producer’s stock worth $1,424,000 after buying an additional 2,409 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 1.0%

NYSE COP opened at $86.83 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The stock’s 50 day moving average is $94.19 and its two-hundred day moving average is $92.16. The company has a market capitalization of $108.45 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 2.35 and a beta of 0.62. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. The company had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.98 earnings per share. Equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s payout ratio is presently 41.88%.

Analyst Ratings Changes

COP has been the topic of a number of recent research reports. Capital One Financial lifted their target price on ConocoPhillips from $111.00 to $112.00 in a research report on Friday, October 3rd. Evercore ISI decreased their target price on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a research report on Monday, October 6th. Roth Capital decreased their target price on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Finally, Melius initiated coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price on the stock. Seventeen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.78.

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.