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

Nissay Asset Management Corp Japan increased its holdings in shares of ConocoPhillips (NYSE:COP) by 3.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 163,265 shares of the energy producer’s stock after buying an additional 5,365 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in ConocoPhillips were worth $16,973,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Frazier Financial Advisors LLC lifted its holdings in shares of ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after acquiring an additional 145 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of ConocoPhillips during the 4th quarter valued at approximately $25,000. Ballast Advisors LLC acquired a new position in ConocoPhillips during the 1st quarter worth approximately $36,000. Evergreen Advisors LLC acquired a new position in ConocoPhillips during the 1st quarter worth approximately $36,000. Finally, Allied Private Wealth LLC bought a new position in ConocoPhillips in the 2nd quarter valued at approximately $32,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Capital One Financial decreased their target price on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research note on Monday, May 18th. Roth Capital upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price target for the company from $124.00 to $130.00 in a research note on Monday, June 22nd. UBS Group raised their price objective on ConocoPhillips from $143.00 to $153.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Jefferies Financial Group raised their price objective on ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a report on Monday, May 18th. Finally, Morgan Stanley boosted their price objective on ConocoPhillips from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.29.

ConocoPhillips Trading Up 0.7%

COP opened at $130.46 on Friday. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.88. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The firm has a market capitalization of $156.73 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 1.37 and a beta of 0.11. The company’s 50 day moving average price is $117.42 and its two-hundred day moving average price is $118.56.

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

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, August 17th. ConocoPhillips’s dividend payout ratio is presently 44.44%.

Insiders Place Their Bets

In related news, SVP Andrew D. Lundquist sold 9,487 shares of the firm’s stock in a transaction on 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 directly owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This trade represents a 49.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by insiders.

ConocoPhillips 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.