ConocoPhillips $COP Shares Sold by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. trimmed its stake in shares of ConocoPhillips (NYSE:COP) by 79.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,390 shares of the energy producer’s stock after selling 131,210 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in ConocoPhillips were worth $3,612,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in ConocoPhillips by 55.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 255,581 shares of the energy producer’s stock worth $26,833,000 after purchasing an additional 91,329 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of ConocoPhillips by 4.7% in the 1st quarter. Integrated Wealth Concepts LLC now owns 30,309 shares of the energy producer’s stock valued at $3,183,000 after purchasing an additional 1,371 shares during the period. Edmond DE Rothschild Holding S.A. lifted its stake in shares of ConocoPhillips by 13.1% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 315,308 shares of the energy producer’s stock valued at $33,114,000 after purchasing an additional 36,560 shares during the period. Eventide Asset Management LLC purchased a new stake in ConocoPhillips during the first quarter worth $1,761,000. Finally, Banque Transatlantique SA grew its position in ConocoPhillips by 404.4% during the first quarter. Banque Transatlantique SA now owns 691 shares of the energy producer’s stock valued at $67,000 after buying an additional 554 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $95.70 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. The firm has a market capitalization of $119.52 billion, a PE ratio of 12.85, a P/E/G ratio of 2.48 and a beta of 0.69. The business’s 50 day moving average price is $94.70 and its 200-day moving average price is $93.22.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. During the same period in the prior year, the company earned $1.98 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. As a group, equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is currently 41.88%.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were purchased at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the transaction, the executive vice president owned 14,527 shares of the company’s stock, valued at $1,369,024.48. The trade was a 57.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on COP. Wells Fargo & Company reissued an “overweight” rating and set a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Susquehanna reduced their price target on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a report on Wednesday, July 23rd. Scotiabank increased their price target on ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a research report on Friday, July 11th. Mizuho cut their price objective on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Finally, Royal Bank Of Canada reduced their target price on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating for the company in a research note on Friday, July 11th. Sixteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $120.95.

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.