Rakuten Investment Management Inc. Acquires Shares of 199,498 ConocoPhillips $COP

Rakuten Investment Management Inc. acquired a new position in shares of ConocoPhillips (NYSE:COP - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 199,498 shares of the energy producer's stock, valued at approximately $20,788,000.

Several other hedge funds also recently made changes to their positions in COP. Mach 1 Financial Group LLC purchased a new stake in shares of ConocoPhillips during the 4th quarter valued at $1,169,000. B. Metzler seel. Sohn & Co. AG purchased a new position in shares of ConocoPhillips in the 2nd quarter worth about $6,896,000. Jennison Associates LLC grew its position in ConocoPhillips by 7.6% during the fourth quarter. Jennison Associates LLC now owns 153,240 shares of the energy producer's stock valued at $14,345,000 after buying an additional 10,779 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in ConocoPhillips by 4.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,608,643 shares of the energy producer's stock valued at $252,256,000 after buying an additional 102,577 shares during the period. Finally, Nicholas Investment Partners LP bought a new position in ConocoPhillips during the second quarter valued at about $6,498,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Insider Activity at ConocoPhillips

In other news, SVP Andrew D. Lundquist sold 9,487 shares of ConocoPhillips stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the transaction, the senior vice president directly owned 9,593 shares in the company, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by insiders.

ConocoPhillips Stock Performance

Shares of COP stock opened at $130.46 on Friday. The stock has a market capitalization of $156.73 billion, a P/E ratio of 17.26, a PEG ratio of 1.36 and a beta of 0.11. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The firm's 50 day moving average is $117.42 and its 200 day moving average is $118.56. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.88.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same period last year, the firm earned $1.42 EPS. ConocoPhillips's revenue for the quarter was up 32.4% on a year-over-year basis. On average, sell-side analysts anticipate that ConocoPhillips will post 10.55 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips's dividend payout ratio (DPR) is presently 44.44%.

Analyst Upgrades and Downgrades

COP has been the topic of several research reports. Royal Bank Of Canada set a $130.00 price objective on shares of ConocoPhillips in a research report on Monday, June 22nd. BMO Capital Markets reduced their target price on shares of ConocoPhillips from $140.00 to $135.00 and set an "outperform" rating for the company in a research report on Wednesday, May 13th. Raymond James Financial restated an "underperform" rating and set a $168.00 price target on shares of ConocoPhillips in a research note on Monday. Jefferies Financial Group lifted their price target on shares of ConocoPhillips from $160.00 to $161.00 and gave the stock a "buy" rating in a report on Monday, May 18th. Finally, Mizuho dropped their price objective on ConocoPhillips from $150.00 to $146.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, ConocoPhillips currently has a consensus rating of "Moderate Buy" and a consensus price target of $140.29.

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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