Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in ConocoPhillips (NYSE:COP)

Mirae Asset Global Investments Co. Ltd. boosted its stake in ConocoPhillips (NYSE:COP) by 445.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,139,209 shares of the energy producer’s stock after purchasing an additional 930,202 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.09% of ConocoPhillips worth $116,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Murphy & Mullick Capital Management Corp purchased a new stake in shares of ConocoPhillips during the 4th quarter valued at $26,000. 10Elms LLP bought a new position in ConocoPhillips in the fourth quarter valued at $28,000. Crowley Wealth Management Inc. purchased a new stake in ConocoPhillips during the fourth quarter valued at about $32,000. Garde Capital Inc. bought a new stake in ConocoPhillips during the first quarter worth about $35,000. Finally, Rakuten Securities Inc. lifted its stake in ConocoPhillips by 222.0% during the fourth quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer’s stock worth $38,000 after purchasing an additional 262 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on COP shares. Raymond James Financial reissued an “outperform” rating and set a $109.00 price objective (up from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Citigroup decreased their price target on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, June 11th. Royal Bank Of Canada cut their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, May 30th. Barclays reduced their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Finally, Scotiabank lowered their price target on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $121.50.

Insiders Place Their Bets

In other news, EVP Kirk L. Johnson bought 5,300 shares of the firm’s stock in a transaction dated Monday, June 16th. The stock was purchased at an average price of $94.24 per share, with a total value of $499,472.00. Following the transaction, the executive vice president now owns 14,527 shares of the company’s stock, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is currently owned by company insiders.

ConocoPhillips Price Performance

Shares of COP stock opened at $90.20 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27. The firm has a market cap of $114.03 billion, a P/E ratio of 11.46, a P/E/G ratio of 2.46 and a beta of 0.61. The business’s 50 day moving average price is $89.96 and its 200-day moving average price is $95.07. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $118.40.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. The business had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. During the same period in the previous year, the firm earned $2.05 EPS. On average, equities research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s payout ratio is currently 39.64%.

About ConocoPhillips

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.