Nomura Asset Management Co. Ltd. Has $51.84 Million Position in ConocoPhillips $COP

Key Points

• Nomura Asset Management trimmed its ConocoPhillips stake by 2.5% in the fourth quarter, but still held 553,771 shares valued at about $51.84 million.
• Wall Street remains broadly positive on COP: analysts have a consensus rating of Moderate Buy with a target price of $134.60, and several firms recently raised their price targets.
• ConocoPhillips reported better-than-expected quarterly results and announced a $0.84 quarterly dividend payable June 1, implying a 2.9% annual yield.

Nomura Asset Management Co. Ltd. reduced its holdings in ConocoPhillips (NYSE:COP - Free Report) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 553,771 shares of the energy producer's stock after selling 14,041 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in ConocoPhillips were worth $51,839,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Strive Asset Management LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter worth about $28,000. Board of the Pension Protection Fund bought a new stake in shares of ConocoPhillips during the 4th quarter worth about $28,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of ConocoPhillips during the 3rd quarter worth about $28,000. Optima Capital LLC bought a new stake in shares of ConocoPhillips during the 4th quarter worth about $34,000. Finally, BNP Paribas bought a new stake in shares of ConocoPhillips during the 2nd quarter worth about $33,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Royal Bank Of Canada boosted their price objective on shares of ConocoPhillips from $118.00 to $152.00 and gave the company an "outperform" rating in a report on Wednesday, April 8th. Argus boosted their price objective on shares of ConocoPhillips from $128.00 to $136.00 and gave the company a "buy" rating in a report on Friday, May 15th. Morgan Stanley boosted their price objective on shares of ConocoPhillips from $149.00 to $153.00 and gave the company an "overweight" rating in a report on Thursday, May 21st. Freedom Capital downgraded shares of ConocoPhillips from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 6th. Finally, Susquehanna boosted their price objective on shares of ConocoPhillips from $149.00 to $152.00 in a report on Friday, May 1st. Seventeen analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $134.60.

Insider Buying and Selling

In other news, SVP Andrew D. Lundquist sold 34,500 shares of the business's stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $119.68, for a total value of $4,128,960.00. Following the completion of the transaction, the senior vice president directly owned 17,469 shares in the company, valued at approximately $2,090,689.92. The trade was a 66.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nicholas G. Olds sold 14,522 shares of the business's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $119.36, for a total transaction of $1,733,345.92. Following the completion of the transaction, the executive vice president owned 12,389 shares of the company's stock, valued at $1,478,751.04. The trade was a 53.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 734,891 shares of company stock worth $93,345,692. 0.09% of the stock is owned by company insiders.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $114.01 on Monday. The firm has a 50 day moving average of $123.09 and a 200-day moving average of $108.61. The stock has a market capitalization of $138.90 billion, a PE ratio of 19.36, a PEG ratio of 1.28 and a beta of 0.11. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $84.33 and a 12 month high of $135.87.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating the consensus estimate of $1.72 by $0.17. The company had revenue of $15.76 billion during the quarter, compared to analysts' expectations of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.09 EPS. On average, equities research analysts predict that ConocoPhillips will post 9.92 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be given a $0.84 dividend. The ex-dividend date is Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. ConocoPhillips's payout ratio is presently 57.05%.

ConocoPhillips Company 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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