Resona Asset Management Co. Ltd. Purchases New Shares in ConocoPhillips (NYSE:COP)

Resona Asset Management Co. Ltd. purchased a new position in ConocoPhillips (NYSE:COP) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 379,274 shares of the energy producer’s stock, valued at approximately $37,494,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Albion Financial Group UT raised its holdings in shares of ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 228 shares during the period. Murphy & Mullick Capital Management Corp acquired a new stake in ConocoPhillips during the 4th quarter valued at $26,000. Centricity Wealth Management LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at $27,000. Crowley Wealth Management Inc. purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at $32,000. Finally, Global Wealth Strategies & Associates boosted its position in shares of ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after buying an additional 153 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on COP. Morgan Stanley reduced their price objective on ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. UBS Group decreased their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Piper Sandler cut their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $132.95.

ConocoPhillips Stock Down 9.5 %

COP stock opened at $86.18 on Friday. The stock has a market capitalization of $108.95 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. The company has a 50-day moving average of $98.53 and a two-hundred day moving average of $103.14. ConocoPhillips has a 52-week low of $85.55 and a 52-week high of $135.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. As a group, equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.62%. ConocoPhillips’s payout ratio is 40.05%.

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.