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

Key Points

• Asset Management One Co. Ltd. reduced its holdings in ConocoPhillips by 2.4%, selling 13,345 shares, and now owns 542,303 shares valued at approximately $48.67 million.
• Several institutional investors, including Charles Schwab Investment Management, have significantly increased their positions in ConocoPhillips, highlighting a total institutional ownership of 82.36%.
• ConocoPhillips posted a quarterly EPS of $1.42, exceeding expectations, and announced a quarterly dividend of $0.78, representing an annual yield of 3.5%.

Asset Management One Co. Ltd. lessened its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 542,303 shares of the energy producer's stock after selling 13,345 shares during the quarter. Asset Management One Co. Ltd.'s holdings in ConocoPhillips were worth $48,666,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in COP. Charles Schwab Investment Management Inc. raised its holdings in shares of ConocoPhillips by 379.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer's stock worth $4,210,751,000 after acquiring an additional 31,736,423 shares during the last quarter. Nuveen LLC acquired a new stake in shares of ConocoPhillips in the 1st quarter worth about $658,981,000. AQR Capital Management LLC raised its holdings in shares of ConocoPhillips by 190.5% in the 1st quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer's stock worth $484,539,000 after acquiring an additional 3,058,505 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of ConocoPhillips by 30.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer's stock worth $942,297,000 after acquiring an additional 2,080,625 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of ConocoPhillips by 53.8% in the 1st quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer's stock worth $550,334,000 after acquiring an additional 1,834,118 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on COP shares. Roth Capital lowered their target price on shares of ConocoPhillips from $108.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, October 15th. Raymond James Financial decreased their price objective on shares of ConocoPhillips from $117.00 to $115.00 and set an "outperform" rating for the company in a research note on Monday, September 8th. Mizuho decreased their price objective 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. JPMorgan Chase & Co. increased their price objective on shares of ConocoPhillips from $114.00 to $115.00 and gave the company an "overweight" rating in a research note on Thursday, October 9th. Finally, BMO Capital Markets increased their price objective on shares of ConocoPhillips from $115.00 to $117.00 and gave the company an "outperform" rating in a research note on Monday, October 13th. Eighteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $115.63.

ConocoPhillips Trading Down 2.3%

Shares of COP stock opened at $88.01 on Friday. The company has a 50 day moving average of $93.32 and a 200-day moving average of $91.92. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $115.38. The firm has a market cap of $109.92 billion, a P/E ratio of 11.81, a PEG ratio of 2.40 and a beta of 0.62.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) 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 company had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same quarter last year, the business posted $1.98 EPS. ConocoPhillips's quarterly revenue was up 4.3% compared to the same quarter last year. Sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

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

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.

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