Nomura Asset Management Co. Ltd. Increases Stake in ConocoPhillips (NYSE:COP)

Nomura Asset Management Co. Ltd. increased its stake in ConocoPhillips (NYSE:COP) by 9.3% in the fourth quarter, Holdings Channel reports. The firm owned 693,772 shares of the energy producer’s stock after purchasing an additional 59,225 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in ConocoPhillips were worth $68,801,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Loomis Sayles & Co. L P increased its position in shares of ConocoPhillips by 6.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,953 shares of the energy producer’s stock valued at $206,000 after acquiring an additional 121 shares during the period. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips in the third quarter valued at about $31,000. Townsquare Capital LLC lifted its holdings in shares of ConocoPhillips by 8.6% during the third quarter. Townsquare Capital LLC now owns 70,499 shares of the energy producer’s stock worth $7,422,000 after purchasing an additional 5,607 shares during the period. Freedom Investment Management Inc. lifted its holdings in shares of ConocoPhillips by 18.8% during the third quarter. Freedom Investment Management Inc. now owns 9,418 shares of the energy producer’s stock worth $992,000 after purchasing an additional 1,492 shares during the period. Finally, Bridgewater Associates LP boosted its position in ConocoPhillips by 58.9% in the third quarter. Bridgewater Associates LP now owns 3,079 shares of the energy producer’s stock valued at $324,000 after buying an additional 1,141 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.3 %

Shares of COP stock opened at $102.86 on Friday. ConocoPhillips has a fifty-two week low of $86.81 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The stock’s fifty day moving average is $99.02 and its two-hundred day moving average is $103.30. The firm has a market capitalization of $130.87 billion, a P/E ratio of 13.20, a PEG ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.03%. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Analysts Set New Price Targets

COP has been the subject of several research reports. The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a research note on Thursday, January 30th. UBS Group lowered their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Wells Fargo & Company reduced their price objective on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Morgan Stanley lowered their target price on ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Piper Sandler dropped their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $132.95.

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.