Nissay Asset Management Corp Japan Has $16.97 Million Stake in ConocoPhillips $COP

Nissay Asset Management Corp Japan grew its position in ConocoPhillips (NYSE:COP) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 163,265 shares of the energy producer’s stock after purchasing an additional 5,365 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in ConocoPhillips were worth $16,973,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Mach 1 Financial Group LLC acquired a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $1,169,000. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of ConocoPhillips in the 2nd quarter valued at $6,896,000. Jennison Associates LLC lifted its position in shares of ConocoPhillips by 7.6% during the 4th quarter. Jennison Associates LLC now owns 153,240 shares of the energy producer’s stock valued at $14,345,000 after acquiring an additional 10,779 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of ConocoPhillips by 4.1% during the 4th 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 acquiring an additional 102,577 shares during the period. Finally, Nicholas Investment Partners LP bought a new position in ConocoPhillips during the second quarter worth $6,498,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COP has been the subject of a number of research reports. Morgan Stanley raised their price target on shares of ConocoPhillips from $147.00 to $151.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Royal Bank Of Canada set a $130.00 price objective on shares of ConocoPhillips in a research report on Monday, June 22nd. The Goldman Sachs Group decreased their target price on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Argus upped their price target on ConocoPhillips from $136.00 to $153.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Finally, Capital One Financial cut their price target on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $140.29.

ConocoPhillips Stock Performance

COP opened at $130.46 on Friday. 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 company’s fifty day moving average price is $117.42 and its two-hundred day moving average price is $118.56. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.88. The company has a market cap of $156.73 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 1.37 and a beta of 0.11.

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

ConocoPhillips Announces Dividend

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

Insider Transactions at ConocoPhillips

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

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.