Mufg Securities Americas Inc. Grows Stock Position in ConocoPhillips $COP

Mufg Securities Americas Inc. increased its stake in shares of ConocoPhillips (NYSE:COP) by 23.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 27,979 shares of the energy producer’s stock after purchasing an additional 5,395 shares during the period. Mufg Securities Americas Inc.’s holdings in ConocoPhillips were worth $2,511,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in COP. Bogart Wealth LLC raised its holdings in ConocoPhillips by 136.8% in the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after acquiring an additional 182 shares in the last quarter. Activest Wealth Management increased its position in shares of 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 last quarter. Financial Network Wealth Advisors LLC increased its position in shares of 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 last quarter. Stone House Investment Management LLC acquired a new stake in shares of ConocoPhillips in the 1st quarter valued at $31,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its stake in ConocoPhillips by 418.6% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock valued at $38,000 after buying an additional 293 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.2%

Shares of ConocoPhillips stock opened at $87.33 on Friday. 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 company has a market capitalization of $107.92 billion, a P/E ratio of 11.72, a PEG ratio of 2.36 and a beta of 0.58. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $112.73. The company’s fifty day moving average is $90.47 and its two-hundred day moving average is $91.87.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.20. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. During the same quarter in the prior year, the firm earned $1.78 earnings per share. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. Analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on COP. The Goldman Sachs Group dropped their price objective on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, October 17th. Melius Research assumed coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target on the stock. Raymond James Financial reduced their price objective on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, September 8th. Roth Capital lowered their target price on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. cut their price target on shares of ConocoPhillips from $115.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday, November 7th. Eighteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.13.

Insider Activity

In related news, Director William H. Mcraven purchased 5,768 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was acquired at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the purchase, the director directly owned 5,768 shares of the company’s stock, valued at $499,970.24. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.24% of the company’s stock.

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.