Nomura Asset Management Co. Ltd. cut its holdings in ConocoPhillips (NYSE:COP) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 475,453 shares of the energy producer’s stock after selling 12,680 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in ConocoPhillips were worth $26,097,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of ConocoPhillips by 468.8% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock valued at $100,000 after purchasing an additional 1,500 shares in the last quarter. Krilogy Financial LLC boosted its stake in shares of ConocoPhillips by 48.6% during the second quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock valued at $105,000 after purchasing an additional 782 shares in the last quarter. Rocky Mountain Advisers LLC boosted its stake in shares of ConocoPhillips by 140.2% during the third quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock valued at $120,000 after purchasing an additional 1,396 shares in the last quarter. Clear Perspective Advisors LLC boosted its stake in shares of ConocoPhillips by 75.5% during the second quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock valued at $123,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Truewealth LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter valued at about $138,000. 71.27% of the stock is currently owned by institutional investors and hedge funds.
ConocoPhillips (NYSE:COP) opened at $53.96 on Wednesday. ConocoPhillips has a 1 year low of $42.26 and a 1 year high of $61.31. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.64 and a current ratio of 1.76. The stock has a market capitalization of $64,296.40, a PE ratio of 74.99, a PEG ratio of 1.64 and a beta of 1.33.
ConocoPhillips declared that its Board of Directors has initiated a share buyback program on Thursday, February 1st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the energy producer to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Monday, February 12th were given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.11%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, February 9th. ConocoPhillips’s dividend payout ratio (DPR) is -228.00%.
COP has been the topic of a number of recent research reports. Royal Bank of Canada set a $61.00 price target on ConocoPhillips and gave the company a “buy” rating in a research note on Wednesday, December 20th. Cowen set a $70.00 price target on ConocoPhillips and gave the company a “buy” rating in a research note on Thursday, January 18th. Howard Weil lowered ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price target on the stock. in a research note on Friday, December 22nd. Zacks Investment Research lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Finally, Goldman Sachs Group raised ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Wednesday, December 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $58.75.
ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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