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

Nomura Asset Management Co. Ltd. trimmed its stake in shares of ConocoPhillips (NYSE:COP) by 2.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 553,771 shares of the energy producer’s stock after selling 14,041 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in ConocoPhillips were worth $51,839,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Duncan Williams Asset Management LLC increased its position in ConocoPhillips by 4.4% during the 4th quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer’s stock worth $222,000 after purchasing an additional 100 shares in the last quarter. Wedge Capital Management L L P NC increased its position in ConocoPhillips by 4.1% during the 4th quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock worth $241,000 after purchasing an additional 101 shares in the last quarter. Strategic Blueprint LLC increased its position in ConocoPhillips by 1.3% during the 4th quarter. Strategic Blueprint LLC now owns 8,018 shares of the energy producer’s stock worth $751,000 after purchasing an additional 101 shares in the last quarter. Chesapeake Wealth Management increased its position in ConocoPhillips by 1.5% during the 4th quarter. Chesapeake Wealth Management now owns 7,160 shares of the energy producer’s stock worth $670,000 after purchasing an additional 103 shares in the last quarter. Finally, Oregon Pacific Wealth Management LLC increased its position in ConocoPhillips by 4.5% during the 4th quarter. Oregon Pacific Wealth Management LLC now owns 2,414 shares of the energy producer’s stock worth $226,000 after purchasing an additional 104 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Up 0.0%

NYSE:COP opened at $114.01 on Monday. The firm’s fifty day moving average is $123.09 and its 200-day moving average is $108.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 52 week low of $84.33 and a 52 week high of $135.87. The firm has a market cap of $138.90 billion, a P/E ratio of 19.36, a P/E/G ratio of 1.28 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 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 company had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period in the prior year, the firm posted $2.09 EPS. The company’s quarterly revenue was down 6.1% on a year-over-year basis. Equities analysts expect that ConocoPhillips will post 9.92 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company 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 $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, May 11th. ConocoPhillips’s dividend payout ratio is currently 57.05%.

Insider Buying and Selling

In other news, EVP Nicholas G. Olds sold 6,994 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $127.06, for a total value of $888,657.64. Following the sale, the executive vice president directly owned 5,395 shares of the company’s stock, valued at approximately $685,488.70. This represents a 56.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Andrew D. Lundquist sold 34,500 shares of the company’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the completion of the sale, the senior vice president directly owned 17,469 shares in the company, valued at approximately $2,090,689.92. This represents a 66.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 734,891 shares of company stock worth $93,345,692. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on COP shares. Piper Sandler upped their price objective on shares of ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Raymond James Financial boosted their target price on shares of ConocoPhillips from $118.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Zacks Research lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Truist Financial set a $128.00 target price on shares of ConocoPhillips in a report on Friday, May 1st. Finally, Wells Fargo & Company boosted their target price on shares of ConocoPhillips from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Seventeen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.60.

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.