Sompo Asset Management Co. Ltd. Purchases Shares of 28,092 ConocoPhillips (NYSE:COP)

Sompo Asset Management Co. Ltd. acquired a new position in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, Holdings Channel.com reports. The fund acquired 28,092 shares of the energy producer’s stock, valued at approximately $2,786,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Albion Financial Group UT raised its stake in shares of ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in shares of ConocoPhillips during the fourth quarter worth about $26,000. Centricity Wealth Management LLC acquired a new stake in ConocoPhillips in the 4th quarter valued at approximately $27,000. Crowley Wealth Management Inc. acquired a new stake in ConocoPhillips in the 4th quarter valued at approximately $32,000. Finally, Global Wealth Strategies & Associates lifted its stake in ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 153 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of COP stock opened at $89.81 on Wednesday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $130.77. The company has a market capitalization of $113.53 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 0.79 and a beta of 0.83. The company has a 50-day simple moving average of $94.89 and a 200 day simple moving average of $101.03. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio is 40.05%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a report on Thursday, January 30th. Susquehanna set a $136.00 price target on shares of ConocoPhillips in a research report on Tuesday. Scotiabank reduced their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. TD Cowen started coverage on ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $127.68.

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.