ConocoPhillips $COP Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of ConocoPhillips (NYSE:COP) by 16.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 568,073 shares of the energy producer’s stock after selling 109,919 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in ConocoPhillips were worth $50,979,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in COP. Bogart Wealth LLC increased its stake in ConocoPhillips by 136.8% during the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after purchasing an additional 182 shares during the last quarter. Activest Wealth Management raised its stake in ConocoPhillips by 249.5% during the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after acquiring an additional 232 shares during the period. Financial Network Wealth Advisors LLC lifted its holdings in ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after acquiring an additional 222 shares during the last quarter. Stone House Investment Management LLC acquired a new position in ConocoPhillips in the first quarter valued at approximately $31,000. Finally, IMA Advisory Services Inc. acquired a new position in ConocoPhillips in the first quarter valued at approximately $37,000. 82.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

COP has been the topic of several recent research reports. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Evercore ISI dropped their price objective on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a report on Monday, October 6th. Mizuho reduced their target price on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Weiss Ratings upgraded shares of ConocoPhillips from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, November 7th. Finally, Melius assumed coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective for the company. Eighteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $115.33.

ConocoPhillips Trading Down 1.9%

ConocoPhillips stock opened at $89.00 on Thursday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $115.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a market capitalization of $109.97 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58. The firm has a 50 day simple moving average of $91.08 and a 200-day simple moving average of $91.96.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. During the same period in the prior year, the firm posted $1.78 earnings per share. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, equities research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a dividend of $0.84 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, November 17th. ConocoPhillips’s dividend payout ratio (DPR) is 47.52%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director William H. Mcraven purchased 5,768 shares of the company’s stock in a transaction on Monday, November 10th. The shares were purchased at an average cost of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the transaction, the director owned 5,768 shares in the company, valued at $499,970.24. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is currently owned by insiders.

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.