MUFG Securities EMEA plc Buys 225,753 Shares of ConocoPhillips $COP

Key Points

• MUFG Securities EMEA plc dramatically increased its ConocoPhillips stake in the fourth quarter, buying 225,753 additional shares and lifting its position by 944.3% to 249,659 shares worth about $23.4 million.
• Wall Street sentiment remains positive, with several analysts raising price targets and the stock carrying a Moderate Buy consensus rating; the average price target is $134.60.
• ConocoPhillips recently beat quarterly earnings expectations and announced a $0.84 per share dividend payable June 1, translating to a 2.9% yield on an annualized basis.

MUFG Securities EMEA plc grew its stake in ConocoPhillips (NYSE:COP - Free Report) by 944.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,659 shares of the energy producer's stock after acquiring an additional 225,753 shares during the period. MUFG Securities EMEA plc's holdings in ConocoPhillips were worth $23,371,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in COP. Cloud Capital Management LLC bought a new position in ConocoPhillips in the 3rd quarter worth about $26,000. KERR FINANCIAL PLANNING Corp bought a new position in ConocoPhillips in the 3rd quarter worth about $28,000. Board of the Pension Protection Fund bought a new position in ConocoPhillips in the 4th quarter worth about $28,000. Strive Asset Management LLC bought a new position in ConocoPhillips in the 3rd quarter worth about $28,000. Finally, BNP Paribas bought a new position in ConocoPhillips in the 2nd quarter worth about $33,000. 82.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of ConocoPhillips from $132.00 to $133.00 and gave the stock an "overweight" rating in a research note on Friday, February 6th. Argus upped their target price on shares of ConocoPhillips from $128.00 to $136.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. The Goldman Sachs Group upped their target price on shares of ConocoPhillips from $115.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, February 6th. Susquehanna upped their target price on shares of ConocoPhillips from $149.00 to $152.00 in a research note on Friday, May 1st. Finally, Jefferies Financial Group upped their target price on shares of ConocoPhillips from $160.00 to $161.00 and gave the stock a "buy" rating in a research note on Monday, May 18th. Seventeen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $134.60.

Insider Activity

In other ConocoPhillips news, SVP Kelly Brunetti Rose sold 8,500 shares of the firm's stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $118.04, for a total value of $1,003,340.00. Following the completion of the sale, the senior vice president directly owned 32,984 shares in the company, valued at $3,893,431.36. This trade represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy A. Leach sold 40,000 shares of the firm's stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $118.79, for a total transaction of $4,751,600.00. Following the completion of the sale, the director owned 411,211 shares of the company's stock, valued at approximately $48,847,754.69. This trade represents a 8.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 734,891 shares of company stock valued at $93,345,692. 0.09% of the stock is currently owned by corporate insiders.

ConocoPhillips Price Performance

NYSE COP opened at $114.01 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The firm's 50 day moving average price is $123.09 and its 200-day moving average price is $108.46. ConocoPhillips has a 52-week low of $84.33 and a 52-week high of $135.87. The company has a market cap of $138.90 billion, a PE ratio of 19.36, a P/E/G ratio of 1.28 and a beta of 0.14.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm had revenue of $15.76 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same period last year, the firm earned $2.09 earnings per share. The company's quarterly revenue was down 6.1% on a year-over-year basis. Sell-side analysts forecast that ConocoPhillips will post 9.92 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be paid a dividend of $0.84 per share. The ex-dividend date is Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. ConocoPhillips's dividend payout ratio (DPR) is currently 57.05%.

ConocoPhillips Profile

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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