Mirae Asset Global Investments Co. Ltd. Has $27.55 Million Position in ConocoPhillips (NYSE:COP)

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of ConocoPhillips (NYSE:COP) by 1.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 265,918 shares of the energy producer’s stock after selling 3,701 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in ConocoPhillips were worth $27,552,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in COP. Northwest Bank & Trust Co bought a new stake in shares of ConocoPhillips during the second quarter worth about $29,000. Fairfield Bush & CO. acquired a new position in ConocoPhillips during the 1st quarter valued at about $31,000. Impact Partnership Wealth LLC bought a new stake in ConocoPhillips during the 2nd quarter worth approximately $42,000. Fortis Capital Advisors LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter worth approximately $43,000. Finally, Key Financial Inc lifted its holdings in shares of ConocoPhillips by 61.6% in the second quarter. Key Financial Inc now owns 451 shares of the energy producer’s stock valued at $47,000 after purchasing an additional 172 shares in the last quarter. Institutional investors own 80.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 569,400 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $122.14, for a total value of $69,546,516.00. Following the completion of the transaction, the chief executive officer now directly owns 18,187 shares of the company’s stock, valued at $2,221,360.18. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Timothy A. Leach sold 44,000 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $114.64, for a total transaction of $5,044,160.00. Following the sale, the director now owns 578,748 shares in the company, valued at approximately $66,347,670.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ryan Michael Lance sold 569,400 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $122.14, for a total transaction of $69,546,516.00. Following the completion of the transaction, the chief executive officer now owns 18,187 shares of the company’s stock, valued at $2,221,360.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 646,049 shares of company stock valued at $78,636,116. 0.37% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Susquehanna decreased their price target on ConocoPhillips from $153.00 to $152.00 and set a “positive” rating for the company in a report on Wednesday, October 18th. Erste Group Bank upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Mizuho boosted their price target on shares of ConocoPhillips from $135.00 to $139.00 and gave the stock a “neutral” rating in a report on Monday, September 18th. Royal Bank of Canada lifted their target price on shares of ConocoPhillips from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 14th. Finally, Wells Fargo & Company upped their target price on ConocoPhillips from $134.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Five analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $136.35.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $115.39 on Tuesday. ConocoPhillips has a 1-year low of $91.53 and a 1-year high of $130.55. The firm has a market cap of $137.02 billion, a P/E ratio of 12.61, a P/E/G ratio of 0.68 and a beta of 1.28. The company has a current ratio of 1.66, a quick ratio of 1.53 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average of $119.58 and a 200-day moving average of $112.65.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 14th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Monday, November 13th. This represents a $2.32 annualized dividend and a yield of 2.01%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.51. ConocoPhillips’s payout ratio is 25.36%.

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 and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.