Nippon Life Global Investors Americas Inc. Has $3.61 Million Stake in ConocoPhillips $COP

Key Points

• Nippon Life Global Investors Americas Inc. has reduced its stake in ConocoPhillips by 79.2%, now owning 34,390 shares valued at approximately $3.61 million after selling 131,210 shares during the first quarter.
• ConocoPhillips reported $1.42 EPS in its latest earnings, exceeding the consensus estimate of $1.36, and achieved a revenue of $14.94 billion, up 4.3% from the previous year.
• The company declared a quarterly dividend of $0.78 payable to stockholders, yielding an annualized dividend of 3.3% with a payout ratio of 41.88%.

Nippon Life Global Investors Americas Inc. lessened its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 79.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,390 shares of the energy producer's stock after selling 131,210 shares during the quarter. Nippon Life Global Investors Americas Inc.'s holdings in ConocoPhillips were worth $3,612,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of COP. Charles Schwab Investment Management Inc. grew its stake in ConocoPhillips by 379.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer's stock valued at $4,210,751,000 after acquiring an additional 31,736,423 shares in the last quarter. Nuveen LLC purchased a new position in ConocoPhillips during the 1st quarter valued at about $658,981,000. AQR Capital Management LLC grew its stake in ConocoPhillips by 190.5% during the 1st quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer's stock valued at $484,539,000 after acquiring an additional 3,058,505 shares in the last quarter. GAMMA Investing LLC grew its stake in ConocoPhillips by 10,440.1% during the 1st quarter. GAMMA Investing LLC now owns 2,964,189 shares of the energy producer's stock valued at $311,299,000 after acquiring an additional 2,936,066 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in ConocoPhillips by 30.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer's stock valued at $942,297,000 after acquiring an additional 2,080,625 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the business's stock in a transaction dated Monday, June 16th. The stock was bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the acquisition, the executive vice president directly owned 14,527 shares in the company, valued at $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on COP. Wall Street Zen cut ConocoPhillips from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Royal Bank Of Canada lowered their price target on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating for the company in a research note on Friday, July 11th. Bank of America lowered their price target on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Morgan Stanley reissued an "overweight" rating and issued a $123.00 price target (up previously from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Finally, Mizuho lowered their price target on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Sixteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $120.86.

ConocoPhillips Stock Performance

ConocoPhillips stock traded down $1.60 during trading hours on Monday, reaching $91.35. 9,746,249 shares of the company were exchanged, compared to its average volume of 6,179,341. The firm has a market cap of $114.09 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 2.43 and a beta of 0.69. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average of $94.79 and a 200 day moving average of $93.04. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $14.94 billion during the quarter, compared to analysts' expectations of $14.39 billion. During the same quarter in the prior year, the business earned $1.98 earnings per share. The company's revenue was up 4.3% on a year-over-year basis. As a group, research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.4%. ConocoPhillips's payout ratio is 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.