MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stock Holdings in ConocoPhillips $COP

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. has increased its holdings in ConocoPhillips by 55.6%, purchasing an additional 91,329 shares to reach a total of 255,581 shares valued at approximately $26.83 million.
• Several institutional investors, including Charles Schwab and Goldman Sachs, have significantly boosted their positions in ConocoPhillips, indicating a growing confidence in the company's stock.
• ConocoPhillips reported earnings of $1.42 per share for the last quarter, surpassing analysts' expectations, and the company also recently declared a quarterly dividend yielding 3.4% per share.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 55.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 255,581 shares of the energy producer's stock after buying an additional 91,329 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in ConocoPhillips were worth $26,833,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Elevation Point Wealth Partners LLC grew its stake in shares of ConocoPhillips by 83.0% during the first quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock valued at $1,897,000 after buying an additional 8,189 shares during the last quarter. Schwartz Investment Counsel Inc. boosted its holdings in shares of ConocoPhillips by 159.6% during the first quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock worth $5,125,000 after purchasing an additional 30,000 shares during the period. Aberdeen Group plc boosted its holdings in shares of ConocoPhillips by 49.3% during the first quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer's stock worth $83,969,000 after purchasing an additional 264,726 shares during the period. ORG Wealth Partners LLC boosted its holdings in shares of ConocoPhillips by 853.3% during the first quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock worth $698,000 after purchasing an additional 5,922 shares during the period. Finally, Hennessy Advisors Inc. boosted its holdings in shares of ConocoPhillips by 151.1% during the first quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock worth $9,580,000 after purchasing an additional 54,900 shares during the period. 82.36% of the stock is owned by institutional investors.

Insider Activity at ConocoPhillips

In other news, EVP Kirk L. Johnson purchased 5,300 shares of the business's stock in a transaction dated Monday, June 16th. The shares were purchased at an average price 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is currently owned by insiders.

ConocoPhillips Stock Down 0.8%

Shares of NYSE COP traded down $0.79 on Friday, reaching $93.34. 1,386,127 shares of the company's stock traded hands, compared to its average volume of 7,918,982. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The business's 50 day simple moving average is $94.78 and its two-hundred day simple moving average is $93.01. The company has a market cap of $116.57 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 2.48 and a beta of 0.69. 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 (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter last year, the firm earned $1.98 earnings per share. The business's revenue for the quarter was up 4.3% on a year-over-year basis. As a group, equities research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company 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 3.3%. ConocoPhillips's dividend payout ratio is presently 41.88%.

Analyst Upgrades and Downgrades

COP has been the subject of a number of analyst reports. Roth Capital reiterated a "buy" rating on shares of ConocoPhillips in a report on Wednesday, September 3rd. Morgan Stanley reiterated an "overweight" rating and set a $123.00 target price (up from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Melius Research started coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They issued a "hold" rating and a $117.00 price target for the company. Wells Fargo & Company reissued an "overweight" rating and issued a $117.00 price target (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Finally, Wall Street Zen downgraded shares of ConocoPhillips from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Sixteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.86.

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.