Industrial Alliance Investment Management Inc. Has $645,000 Stake in ConocoPhillips (NYSE:COP)

Industrial Alliance Investment Management Inc. increased its holdings in shares of ConocoPhillips (NYSE:COP) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,064 shares of the energy producer’s stock after purchasing an additional 213 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in ConocoPhillips were worth $645,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. lifted its stake in ConocoPhillips by 35.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 770,333 shares of the energy producer’s stock valued at $98,048,000 after acquiring an additional 200,784 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in ConocoPhillips in the first quarter valued at $5,613,000. Blackstone Inc. lifted its stake in ConocoPhillips by 31.1% in the first quarter. Blackstone Inc. now owns 13,902 shares of the energy producer’s stock valued at $1,769,000 after acquiring an additional 3,300 shares during the last quarter. Waverly Advisors LLC lifted its stake in ConocoPhillips by 33.1% in the first quarter. Waverly Advisors LLC now owns 8,131 shares of the energy producer’s stock valued at $1,035,000 after acquiring an additional 2,023 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC lifted its stake in ConocoPhillips by 1.5% in the first quarter. Silvercrest Asset Management Group LLC now owns 270,009 shares of the energy producer’s stock valued at $34,367,000 after acquiring an additional 3,888 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP traded up $0.79 during mid-day trading on Tuesday, reaching $109.91. The company had a trading volume of 9,792,261 shares, compared to its average volume of 5,609,352. The company’s 50 day simple moving average is $113.52 and its 200 day simple moving average is $117.19. ConocoPhillips has a 1-year low of $105.77 and a 1-year high of $135.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. The company has a market capitalization of $128.54 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 2.19 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The company had revenue of $14.48 billion for the quarter, compared to the consensus estimate of $14.72 billion. Analysts expect that ConocoPhillips will post 8.73 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.84%. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on COP shares. Sanford C. Bernstein cut their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Piper Sandler increased their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Mizuho dropped their price objective on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 5th. Finally, Truist Financial dropped their price objective on shares of ConocoPhillips from $165.00 to $147.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $143.24.

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.