ConocoPhillips (NYSE:COP) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of ConocoPhillips (NYSE:COP) by 7.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 166,451 shares of the energy producer’s stock after purchasing an additional 11,120 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in ConocoPhillips were worth $17,431,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COP. Brookstone Capital Management boosted its holdings in ConocoPhillips by 41.2% in the 1st quarter. Brookstone Capital Management now owns 10,158 shares of the energy producer’s stock worth $1,293,000 after acquiring an additional 2,963 shares during the period. Vicus Capital purchased a new position in ConocoPhillips in the 1st quarter worth approximately $324,000. Founders Financial Securities LLC purchased a new position in ConocoPhillips in the 1st quarter worth approximately $1,184,000. Chatham Capital Group Inc. purchased a new position in ConocoPhillips in the 1st quarter worth approximately $1,000,000. Finally, Breakwater Capital Group boosted its holdings in ConocoPhillips by 3.5% in the 1st quarter. Breakwater Capital Group now owns 4,080 shares of the energy producer’s stock worth $519,000 after acquiring an additional 138 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Truist Financial decreased their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. BMO Capital Markets increased their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Wolfe Research began coverage on ConocoPhillips in a research note on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price for the company. Susquehanna reduced their target price on ConocoPhillips from $147.00 to $144.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $136.94.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $104.56 on Friday. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The business’s fifty day moving average price is $108.47 and its two-hundred day moving average price is $113.82. The firm has a market capitalization of $122.29 billion, a PE ratio of 11.84, a P/E/G ratio of 0.84 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same period last year, the company earned $1.84 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, research analysts expect that ConocoPhillips will post 7.95 EPS for the current year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Insider Activity

In other news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Company 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.