Asset Management One Co. Ltd. Sells 13,345 Shares of ConocoPhillips $COP

Asset Management One Co. Ltd. cut its holdings in ConocoPhillips (NYSE:COP) by 2.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 542,303 shares of the energy producer’s stock after selling 13,345 shares during the period. Asset Management One Co. Ltd.’s holdings in ConocoPhillips were worth $48,666,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of COP. Bogart Wealth LLC boosted its holdings in ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after buying an additional 182 shares during the period. Activest Wealth Management boosted its holdings in ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 232 shares during the period. Financial Network Wealth Advisors LLC boosted its holdings in ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 222 shares during the period. Stone House Investment Management LLC bought a new position in ConocoPhillips in the 1st quarter valued at $31,000. Finally, IMA Advisory Services Inc. bought a new position in ConocoPhillips in the 1st quarter valued at $37,000. 82.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

COP has been the subject of several analyst reports. Melius Research initiated coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target for the company. Barclays cut their price target on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Wolfe Research cut their price target on shares of ConocoPhillips from $137.00 to $130.00 and set an “outperform” rating for the company in a report on Monday, October 20th. Morgan Stanley cut their price target on shares of ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, October 14th. Finally, Piper Sandler cut their price target on shares of ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, October 13th. Eighteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $115.63.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $88.01 on Friday. The firm’s fifty day moving average price is $93.32 and its 200-day moving average price is $91.92. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The stock has a market cap of $109.92 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 2.40 and a beta of 0.62. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.06. The firm had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company posted $1.98 EPS. On average, equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

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.