Mirae Asset Global Investments Co. Ltd. Has $108.66 Million Stake in ConocoPhillips $COP

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of ConocoPhillips (NYSE:COP) by 6.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,210,860 shares of the energy producer’s stock after buying an additional 71,651 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in ConocoPhillips were worth $108,663,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of COP. NBC Securities Inc. grew its position in shares of ConocoPhillips by 114,680.0% during the 1st quarter. NBC Securities Inc. now owns 5,739 shares of the energy producer’s stock worth $602,000 after buying an additional 5,734 shares during the period. RFG Advisory LLC grew its position in ConocoPhillips by 71.0% in the 1st quarter. RFG Advisory LLC now owns 12,400 shares of the energy producer’s stock valued at $1,302,000 after purchasing an additional 5,149 shares during the period. Apella Capital LLC grew its position in ConocoPhillips by 124.0% in the 1st quarter. Apella Capital LLC now owns 7,566 shares of the energy producer’s stock valued at $795,000 after purchasing an additional 4,189 shares during the period. HF Advisory Group LLC grew its position in ConocoPhillips by 6.7% in the 1st quarter. HF Advisory Group LLC now owns 17,410 shares of the energy producer’s stock valued at $1,828,000 after purchasing an additional 1,094 shares during the period. Finally, Naples Global Advisors LLC grew its position in ConocoPhillips by 3.6% in the 1st quarter. Naples Global Advisors LLC now owns 16,467 shares of the energy producer’s stock valued at $1,729,000 after purchasing an additional 565 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on COP. Scotiabank lifted their price target on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Citigroup reduced their price target on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, June 11th. Roth Capital reissued a “buy” rating on shares of ConocoPhillips in a research report on Wednesday, September 3rd. Wells Fargo & Company reissued an “overweight” rating and issued a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Finally, Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Sixteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $120.14.

ConocoPhillips Stock Down 2.1%

ConocoPhillips stock opened at $93.45 on Friday. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08. The stock has a market cap of $116.71 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 2.51 and a beta of 0.62. The firm’s 50-day simple moving average is $94.94 and its 200 day simple moving average is $92.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. During the same period in the previous year, the company earned $1.98 earnings per share. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. Research analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s payout ratio 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.