Nomura Asset Management Co. Ltd. Purchases 59,225 Shares of ConocoPhillips (NYSE:COP)

Nomura Asset Management Co. Ltd. grew its position in shares of ConocoPhillips (NYSE:COP) by 9.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 693,772 shares of the energy producer’s stock after acquiring an additional 59,225 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.06% of ConocoPhillips worth $68,801,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. New Age Alpha Advisors LLC grew its stake in shares of ConocoPhillips by 129,876.7% in the 4th quarter. New Age Alpha Advisors LLC now owns 94,883 shares of the energy producer’s stock worth $9,410,000 after buying an additional 94,810 shares in the last quarter. Easterly Investment Partners LLC purchased a new position in ConocoPhillips in the fourth quarter worth about $7,007,000. BCO Wealth Management LLC bought a new stake in ConocoPhillips during the fourth quarter worth approximately $316,000. LM Advisors LLC purchased a new stake in ConocoPhillips during the fourth quarter valued at approximately $262,000. Finally, Homestead Advisers Corp lifted its stake in shares of ConocoPhillips by 3.9% in the 4th quarter. Homestead Advisers Corp now owns 935,400 shares of the energy producer’s stock valued at $92,764,000 after purchasing an additional 35,200 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Down 0.3 %

COP opened at $102.86 on Friday. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18. The stock has a fifty day moving average price of $99.02 and a 200-day moving average price of $103.30. The firm has a market cap of $130.87 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.79 and a beta of 1.12. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

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

ConocoPhillips Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on COP. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Wells Fargo & Company lowered their target price on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a report on Monday, February 10th. UBS Group cut 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. Evercore ISI reissued an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. Finally, Morgan Stanley dropped their target price on ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating for the company in a research report on Thursday. 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.