Sumitomo Mitsui Trust Group Inc. Has $320.56 Million Stake in ConocoPhillips $COP

Sumitomo Mitsui Trust Group Inc. cut its stake in ConocoPhillips (NYSE:COP) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,388,908 shares of the energy producer’s stock after selling 6,638 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.27% of ConocoPhillips worth $320,557,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its holdings in ConocoPhillips by 4,482.0% in the first quarter. Acadian Asset Management LLC now owns 49,577 shares of the energy producer’s stock valued at $5,204,000 after buying an additional 48,495 shares during the period. Central Pacific Bank Trust Division boosted its position in shares of ConocoPhillips by 4.5% during the 2nd quarter. Central Pacific Bank Trust Division now owns 7,215 shares of the energy producer’s stock valued at $647,000 after purchasing an additional 312 shares in the last quarter. TruWealth Advisors LLC grew its stake in ConocoPhillips by 8.9% during the second quarter. TruWealth Advisors LLC now owns 2,430 shares of the energy producer’s stock worth $218,000 after purchasing an additional 199 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in ConocoPhillips by 26.7% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 7,954 shares of the energy producer’s stock worth $714,000 after purchasing an additional 1,675 shares in the last quarter. Finally, Greenfield Savings Bank lifted its stake in ConocoPhillips by 3.6% in the second quarter. Greenfield Savings Bank now owns 8,910 shares of the energy producer’s stock valued at $800,000 after buying an additional 310 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on COP. Roth Capital reduced their price objective on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 15th. Wells Fargo & Company began coverage on shares of ConocoPhillips in a report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 price target for the company. Evercore ISI decreased their price target on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research note on Monday, October 6th. Barclays cut their price objective on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Finally, BMO Capital Markets reduced their target price on ConocoPhillips from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 15th. Nineteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $112.96.

Insider Activity

In related news, CEO Ryan Michael Lance sold 500,708 shares of the stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the completion of the sale, the chief executive officer directly owned 325,972 shares of the company’s stock, valued at approximately $30,152,410. This trade represents a 60.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William H. Mcraven purchased 5,768 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the acquisition, the director directly owned 5,768 shares of the company’s stock, valued at $499,970.24. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.24% of the company’s stock.

ConocoPhillips Trading Down 1.3%

Shares of ConocoPhillips stock opened at $97.44 on Monday. The company has a market capitalization of $120.40 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 2.64 and a beta of 0.32. The stock has a fifty day simple moving average of $91.60 and a 200 day simple moving average of $92.67. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $106.20. The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. The firm had revenue of $15.03 billion for the quarter, compared to the consensus estimate of $14.51 billion. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.78 EPS. On average, sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Monday, November 17th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s payout ratio is currently 47.52%.

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.