Financiere des Professionnels Fonds d investissement inc. Sells 29,787 Shares of ConocoPhillips $COP

Financiere des Professionnels Fonds d investissement inc. reduced its stake in ConocoPhillips (NYSE:COP) by 39.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 46,100 shares of the energy producer’s stock after selling 29,787 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.’s holdings in ConocoPhillips were worth $6,085,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Bessemer Group Inc. boosted its holdings in ConocoPhillips by 3.1% during the 1st quarter. Bessemer Group Inc. now owns 2,401,650 shares of the energy producer’s stock worth $317,018,000 after acquiring an additional 71,406 shares during the last quarter. Avalon Trust Co bought a new stake in shares of ConocoPhillips in the 1st quarter worth $40,000. Allspring Global Investments Holdings LLC raised its holdings in shares of ConocoPhillips by 8.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 591,022 shares of the energy producer’s stock valued at $75,875,000 after purchasing an additional 46,091 shares during the last quarter. Independent Financial Group LLC purchased a new stake in shares of ConocoPhillips in the first quarter valued at about $1,123,000. Finally, Prosperity Consulting Group LLC lifted its position in shares of ConocoPhillips by 5.0% during the first quarter. Prosperity Consulting Group LLC now owns 8,360 shares of the energy producer’s stock valued at $1,104,000 after purchasing an additional 401 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on COP shares. Raymond James Financial cut their price target on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a report on Monday, June 1st. Scotiabank increased their price objective on shares of ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Truist Financial dropped their target price on shares of ConocoPhillips from $128.00 to $115.00 and set a “hold” rating on the stock in a research report on Wednesday, July 8th. Argus upped their target price on ConocoPhillips from $128.00 to $136.00 and gave the company a “buy” rating in a report on Friday, May 15th. Finally, Zacks Research downgraded ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $134.04.

ConocoPhillips Trading Up 1.2%

NYSE:COP opened at $112.77 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $137.38 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.35 and a beta of 0.12. The firm’s 50 day moving average is $113.46 and its 200 day moving average is $113.36. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.87.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same period in the prior year, the company earned $2.09 earnings per share. ConocoPhillips’s revenue was down 6.1% compared to the same quarter last year. Sell-side analysts expect that ConocoPhillips will post 9.2 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s dividend payout ratio is currently 57.05%.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.