Tokio Marine Asset Management Co. Ltd. Has $5.72 Million Position in ConocoPhillips (NYSE:COP)

Tokio Marine Asset Management Co. Ltd. grew its holdings in ConocoPhillips (NYSE:COP) by 3.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 54,299 shares of the energy producer’s stock after acquiring an additional 1,982 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in ConocoPhillips were worth $5,717,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COP. EP Wealth Advisors LLC grew its stake in shares of ConocoPhillips by 19.1% in the 1st quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock valued at $3,640,000 after purchasing an additional 4,578 shares during the period. Manning & Napier Advisors LLC acquired a new position in ConocoPhillips in the second quarter worth $30,021,000. Alpha DNA Investment Management LLC grew its holdings in shares of ConocoPhillips by 83.8% during the second quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock worth $1,879,000 after purchasing an additional 7,490 shares during the last quarter. TCW Group Inc. raised its holdings in shares of ConocoPhillips by 37.8% in the second quarter. TCW Group Inc. now owns 30,026 shares of the energy producer’s stock valued at $3,434,000 after buying an additional 8,231 shares during the last quarter. Finally, Doheny Asset Management CA bought a new position in shares of ConocoPhillips in the second quarter valued at about $815,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Up 0.8 %

Shares of NYSE:COP traded up $0.89 during midday trading on Thursday, hitting $112.71. 267,616 shares of the company’s stock were exchanged, compared to its average volume of 5,871,891. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The stock has a 50 day moving average price of $107.77 and a 200-day moving average price of $111.90. The company has a market cap of $129.72 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 0.90 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter last year, the firm earned $2.16 EPS. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. On average, sell-side analysts anticipate that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be given a dividend of $0.78 per share. The ex-dividend date is Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.77%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on COP shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Barclays lifted their price objective on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. BMO Capital Markets increased their target price on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. UBS Group reduced their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $137.47.

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.