ConocoPhillips (NYSE:COP) Shares Bought by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. raised its holdings in shares of ConocoPhillips (NYSE:COP) by 1.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,176 shares of the energy producer’s stock after buying an additional 270 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in ConocoPhillips were worth $1,909,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Murphy & Mullick Capital Management Corp acquired a new position in shares of ConocoPhillips during the 4th quarter worth approximately $26,000. Pictet Asset Management Holding SA lifted its position in ConocoPhillips by 11.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 444,137 shares of the energy producer’s stock worth $44,045,000 after buying an additional 45,522 shares in the last quarter. RiverFront Investment Group LLC lifted its position in ConocoPhillips by 15.9% during the fourth quarter. RiverFront Investment Group LLC now owns 3,939 shares of the energy producer’s stock worth $391,000 after buying an additional 539 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in ConocoPhillips by 29.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 7,253 shares of the energy producer’s stock worth $719,000 after buying an additional 1,637 shares during the last quarter. Finally, Allstate Corp purchased a new stake in ConocoPhillips in the 4th quarter valued at $3,851,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $94.96 on Friday. The stock has a market capitalization of $120.04 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. The business has a 50-day moving average of $91.14 and a 200 day moving average of $94.34. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. The business had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same quarter in the prior year, the company earned $2.05 earnings per share. As a group, sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.29%. ConocoPhillips’s dividend payout ratio is presently 39.64%.

Insider Activity at ConocoPhillips

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the business’s stock in a transaction dated Monday, June 16th. The shares were acquired at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the transaction, the executive vice president owned 14,527 shares of the company’s stock, valued at $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company reiterated an “overweight” rating and set a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Royal Bank Of Canada reduced their target price on shares of ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a research note on Friday, July 11th. Morgan Stanley reiterated an “overweight” rating and issued a $119.00 target price on shares of ConocoPhillips in a report on Tuesday, July 15th. Citigroup cut their price target on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, June 11th. Finally, Bank of America reduced their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a research report on Friday, May 23rd. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $121.33.

ConocoPhillips 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.