ConocoPhillips (COP) Shares Bought by CI Investments Inc.
CI Investments Inc. lifted its stake in ConocoPhillips (NYSE:COP) by 468.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,530 shares of the energy producer’s stock after acquiring an additional 58,130 shares during the period. CI Investments Inc.’s holdings in ConocoPhillips were worth $3,871,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of COP. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of ConocoPhillips by 468.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock worth $100,000 after acquiring an additional 1,500 shares during the period. Krilogy Financial LLC lifted its stake in shares of ConocoPhillips by 48.6% in the 2nd quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock worth $105,000 after acquiring an additional 782 shares during the period. Rocky Mountain Advisers LLC lifted its stake in shares of ConocoPhillips by 140.2% in the 3rd quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock worth $120,000 after acquiring an additional 1,396 shares during the period. Clear Perspective Advisors LLC lifted its stake in shares of ConocoPhillips by 75.5% in the 2nd quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock worth $123,000 after acquiring an additional 1,200 shares during the period. Finally, TLP Group LLC acquired a new stake in ConocoPhillips during the second quarter valued at approximately $142,000. 70.93% of the stock is owned by institutional investors.
Shares of ConocoPhillips (NYSE COP) opened at $53.32 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23. The company has a market cap of $62,869.28, a P/E ratio of 73.16, a P/E/G ratio of 1.74 and a beta of 1.32. ConocoPhillips has a 12-month low of $42.26 and a 12-month high of $61.31.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Friday, February 9th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.27. ConocoPhillips’s dividend payout ratio is -228.00%.
ConocoPhillips announced that its Board of Directors has approved a stock buyback plan on Wednesday, November 8th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the energy producer to reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
Several analysts recently commented on COP shares. Royal Bank of Canada set a $61.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Wednesday, December 20th. Piper Jaffray Companies reissued a “buy” rating and set a $53.00 target price on shares of ConocoPhillips in a research note on Friday, November 3rd. Scotiabank reissued a “buy” rating and set a $53.00 target price on shares of ConocoPhillips in a research note on Wednesday, November 1st. Goldman Sachs Group raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Wednesday, December 13th. Finally, Cowen set a $70.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $59.06.
In other news, Director Charles E. Bunch purchased 2,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, December 11th. The stock was acquired at an average price of $52.06 per share, for a total transaction of $104,120.00. Following the transaction, the director now owns 3,429 shares in the company, valued at $178,513.74. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is currently owned by corporate insiders.
ConocoPhillips Company Profile
ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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