Mackenzie Financial Corp Has $137.55 Million Stock Position in ConocoPhillips (NYSE:COP)

Mackenzie Financial Corp increased its stake in ConocoPhillips (NYSE:COP) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,185,030 shares of the energy producer’s stock after acquiring an additional 5,409 shares during the quarter. Mackenzie Financial Corp owned about 0.10% of ConocoPhillips worth $137,546,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Morgan Stanley lifted its stake in shares of ConocoPhillips by 26.6% in the fourth quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock worth $1,964,432,000 after acquiring an additional 3,497,750 shares during the period. Northern Trust Corp lifted its stake in shares of ConocoPhillips by 3.2% in the third quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock worth $1,495,927,000 after acquiring an additional 386,276 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of ConocoPhillips by 10.6% in the third quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock worth $1,440,962,000 after acquiring an additional 1,152,907 shares during the period. Moneta Group Investment Advisors LLC increased its holdings in ConocoPhillips by 98,832.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock worth $1,012,956,000 after purchasing an additional 8,575,696 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of ConocoPhillips by 8.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock worth $968,410,000 after buying an additional 659,632 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COP has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on shares of ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Raymond James dropped their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Mizuho reissued a “neutral” rating and set a $139.00 price objective (up previously from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Susquehanna decreased their target price on ConocoPhillips from $152.00 to $133.00 and set a “positive” rating for the company in a research report on Friday, January 26th. Finally, Truist Financial dropped their price target on ConocoPhillips from $173.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $140.59.

Insiders Place Their Bets

In other news, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the transaction, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at $293,399.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the transaction, the executive vice president now owns 14,522 shares in the company, valued at $1,836,161.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the transaction, the senior vice president now owns 2,654 shares in the company, valued at approximately $293,399.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 700,775 shares of company stock valued at $87,615,169. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP opened at $130.25 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. The stock has a 50 day moving average price of $119.24 and a two-hundred day moving average price of $116.86. The firm has a market capitalization of $153.23 billion, a P/E ratio of 14.38, a P/E/G ratio of 2.85 and a beta of 1.24. ConocoPhillips has a 52 week low of $95.70 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. The firm had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same period in the previous year, the company posted $2.71 EPS. Equities analysts forecast that ConocoPhillips will post 9.21 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were issued a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s payout ratio is currently 25.61%.

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.