SBI Securities Co. Ltd. Acquires New Shares in ConocoPhillips (NYSE:COP)

SBI Securities Co. Ltd. acquired a new stake in shares of ConocoPhillips (NYSE:COP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,467 shares of the energy producer’s stock, valued at approximately $145,000.

A number of other institutional investors have also recently bought and sold shares of COP. State Street Corp boosted its position in ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after purchasing an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP boosted its position in ConocoPhillips by 20.2% during the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after purchasing an additional 5,240,016 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock worth $1,311,369,000 after buying an additional 4,656,040 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of ConocoPhillips by 5,422.3% in the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after buying an additional 4,504,653 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of ConocoPhillips by 401.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock worth $438,690,000 after buying an additional 3,541,504 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on COP shares. The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a research report on Thursday, January 30th. Raymond James cut ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Truist Financial boosted their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a research report on Friday, December 6th. Finally, Wells Fargo & Company reduced their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $133.47.

Insider Activity

In related news, Director R A. Walker acquired 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the purchase, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arjun N. Murti acquired 2,500 shares of the stock in a transaction dated Friday, December 20th. The stock was bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Trading Up 2.4 %

Shares of COP opened at $90.70 on Friday. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $115.40 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 0.79 and a beta of 1.12. The stock’s 50-day moving average price is $99.53 and its 200 day moving average price is $104.38.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) 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, research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

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 3.44%. ConocoPhillips’s dividend payout ratio is currently 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.