Sumitomo Mitsui Trust Holdings Inc. Acquires 46,252 Shares of ConocoPhillips (NYSE:COP)

Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,135,332 shares of the energy producer’s stock after purchasing an additional 46,252 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in ConocoPhillips were worth $399,065,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Naviter Wealth LLC raised its stake in ConocoPhillips by 1.1% in the 1st quarter. Naviter Wealth LLC now owns 23,819 shares of the energy producer’s stock valued at $3,032,000 after acquiring an additional 266 shares during the period. MV Capital Management Inc. raised its stake in ConocoPhillips by 6.0% in the 1st quarter. MV Capital Management Inc. now owns 1,952 shares of the energy producer’s stock valued at $248,000 after acquiring an additional 110 shares during the period. Leonard Rickey Investment Advisors P.L.L.C. grew its holdings in ConocoPhillips by 6.9% during the 1st quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 2,251 shares of the energy producer’s stock valued at $287,000 after buying an additional 146 shares in the last quarter. Farmers & Merchants Investments Inc. grew its holdings in ConocoPhillips by 0.9% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 105,776 shares of the energy producer’s stock valued at $13,463,000 after buying an additional 972 shares in the last quarter. Finally, Cullinan Associates Inc. grew its holdings in ConocoPhillips by 12.8% during the 1st quarter. Cullinan Associates Inc. now owns 22,679 shares of the energy producer’s stock valued at $2,887,000 after buying an additional 2,580 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

Shares of COP stock traded up $1.33 during trading hours on Wednesday, reaching $115.45. 644,634 shares of the company traded hands, compared to its average volume of 5,629,726. ConocoPhillips has a 12-month low of $99.35 and a 12-month high of $135.18. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. The company has a market cap of $135.02 billion, a P/E ratio of 12.93, a P/E/G ratio of 2.04 and a beta of 1.24. The firm has a 50-day moving average price of $118.00 and a 200 day moving average price of $117.61.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The company had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. As a group, sell-side analysts predict that ConocoPhillips will post 8.89 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a yield of 2.70%. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Analyst Ratings Changes

COP has been the subject of a number of recent analyst reports. Argus raised ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Scotiabank lifted their target price on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Susquehanna lifted their target price on ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a report on Monday, April 22nd. StockNews.com raised ConocoPhillips from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. Finally, Bank of America reissued a “buy” rating and set a $147.00 price objective on shares of ConocoPhillips in a report on Friday, June 14th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $144.18.

ConocoPhillips 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.