ConocoPhillips (NYSE:COP) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its stake in ConocoPhillips (NYSE:COP) by 8.7% during the second quarter, HoldingsChannel reports. The firm owned 152,479 shares of the energy producer’s stock after purchasing an additional 12,174 shares during the quarter. Daiwa Securities Group Inc.’s holdings in ConocoPhillips were worth $17,441,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Valued Wealth Advisors LLC grew its holdings in ConocoPhillips by 45.8% in the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after buying an additional 82 shares in the last quarter. Astoria Portfolio Advisors LLC. grew its stake in shares of ConocoPhillips by 4.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock worth $291,000 after purchasing an additional 85 shares in the last quarter. Manchester Capital Management LLC grew its stake in shares of ConocoPhillips by 22.1% in the first quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock worth $60,000 after purchasing an additional 86 shares in the last quarter. Adirondack Trust Co. raised its stake in shares of ConocoPhillips by 3.1% during the fourth quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after purchasing an additional 90 shares in the last quarter. Finally, Mayfair Advisory Group LLC lifted its holdings in ConocoPhillips by 3.5% in the first quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock worth $334,000 after purchasing an additional 90 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP stock opened at $104.00 on Wednesday. The firm has a 50-day moving average of $110.82 and a two-hundred day moving average of $116.93. The firm has a market capitalization of $121.63 billion, a PE ratio of 11.78, a P/E/G ratio of 0.80 and a beta of 1.22. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. ConocoPhillips has a one year low of $102.27 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. During the same quarter last year, the business posted $1.84 EPS. The company’s revenue was up 9.7% on a year-over-year basis. On average, analysts forecast that ConocoPhillips will post 8.42 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.23%. ConocoPhillips’s dividend payout ratio is 26.27%.

Analyst Upgrades and Downgrades

COP has been the topic of a number of recent analyst reports. Scotiabank dropped their price target on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Truist Financial dropped their target price on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Argus raised ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Raymond James reiterated a “strong-buy” rating and set a $159.00 price target (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Finally, Mizuho cut their price objective on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a report on Wednesday, June 5th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $143.24.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is owned by insiders.

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.