ConocoPhillips (NYSE:COP) Shares Bought by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. boosted its holdings in ConocoPhillips (NYSE:COP) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,701 shares of the energy producer’s stock after acquiring an additional 1,452 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in ConocoPhillips were worth $5,769,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Northern Trust Corp lifted its holdings in shares of ConocoPhillips by 3.2% in the 3rd quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock worth $1,495,927,000 after acquiring an additional 386,276 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in ConocoPhillips by 10.6% during the third quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock worth $1,440,962,000 after purchasing an additional 1,152,907 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of ConocoPhillips by 8.9% during the third quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock worth $968,410,000 after buying an additional 659,632 shares during the period. Lazard Asset Management LLC grew its stake in shares of ConocoPhillips by 1.1% in the third quarter. Lazard Asset Management LLC now owns 7,086,681 shares of the energy producer’s stock valued at $848,984,000 after buying an additional 74,278 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of ConocoPhillips by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,472,590 shares of the energy producer’s stock valued at $775,416,000 after buying an additional 33,466 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on COP. Wells Fargo & Company boosted their price target on shares of ConocoPhillips from $141.00 to $149.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Raymond James cut their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Piper Sandler increased their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Morgan Stanley boosted their price target on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Finally, Mizuho reiterated a “neutral” rating and issued a $139.00 price objective (up from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.24.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value of $502,781.40. Following the transaction, the senior vice president now directly owns 2,654 shares in the company, valued at approximately $293,399.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Dominic E. Macklon sold 23,372 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $112.17, for a total value of $2,621,637.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Heather G. Hrap sold 4,548 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the transaction, the senior vice president now owns 2,654 shares of the company’s stock, valued at $293,399.70. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock worth $87,615,169 in the last quarter. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock traded down $0.57 during trading hours on Wednesday, hitting $129.27. The stock had a trading volume of 3,846,568 shares, compared to its average volume of 5,377,396. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. The firm has a market capitalization of $152.07 billion, a PE ratio of 14.27, a PEG ratio of 2.73 and a beta of 1.24. The stock’s 50 day moving average is $121.71 and its 200 day moving average is $117.49. ConocoPhillips has a twelve month low of $95.70 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The firm had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. During the same quarter in the prior year, the firm earned $2.71 EPS. As a group, research analysts forecast that ConocoPhillips will post 9.47 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 25.61%.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.