Mitsubishi UFJ Trust & Banking Corp Purchases 79,443 Shares of ConocoPhillips (NYSE:COP)

Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of ConocoPhillips (NYSE:COP) by 8.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,042,261 shares of the energy producer’s stock after purchasing an additional 79,443 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.08% of ConocoPhillips worth $52,140,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Lee Danner & Bass Inc. lifted its position in shares of ConocoPhillips by 3.7% during the first quarter. Lee Danner & Bass Inc. now owns 5,296 shares of the energy producer’s stock valued at $281,000 after purchasing an additional 189 shares in the last quarter. Grandview Asset Management LLC bought a new position in shares of ConocoPhillips during the first quarter valued at about $37,000. Carnegie Capital Asset Management LLC lifted its position in shares of ConocoPhillips by 4.0% during the first quarter. Carnegie Capital Asset Management LLC now owns 5,301 shares of the energy producer’s stock valued at $281,000 after purchasing an additional 206 shares in the last quarter. Cannell Peter B & Co. Inc. lifted its position in shares of ConocoPhillips by 1.8% during the fourth quarter. Cannell Peter B & Co. Inc. now owns 11,926 shares of the energy producer’s stock valued at $477,000 after purchasing an additional 213 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC raised its position in ConocoPhillips by 1.3% in the first quarter. Legacy Wealth Asset Management LLC now owns 16,827 shares of the energy producer’s stock worth $891,000 after acquiring an additional 213 shares during the period. 77.60% of the stock is currently owned by institutional investors.

COP has been the topic of several research reports. Truist Securities lifted their price objective on shares of ConocoPhillips from $50.00 to $60.00 in a research report on Monday, April 19th. Raymond James raised shares of ConocoPhillips from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $80.00 to $85.00 in a research report on Friday, May 7th. Bank of America raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $67.00 price objective on the stock in a research report on Wednesday, May 5th. Barclays lifted their price objective on shares of ConocoPhillips from $63.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, June 3rd. Finally, Morgan Stanley lifted their price objective on shares of ConocoPhillips from $58.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, March 11th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $60.81.

Shares of NYSE:COP opened at $60.17 on Friday. The company’s 50 day moving average price is $54.47. The stock has a market capitalization of $81.19 billion, a PE ratio of -401.11, a P/E/G ratio of 3.58 and a beta of 1.75. ConocoPhillips has a 12 month low of $27.53 and a 12 month high of $61.28. The company has a current ratio of 2.03, a quick ratio of 1.88 and a debt-to-equity ratio of 0.45.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Tuesday, May 4th. The energy producer reported $0.69 EPS for the quarter, beating the consensus estimate of $0.57 by $0.12. The company had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $7.73 billion. ConocoPhillips had a net margin of 0.08% and a negative return on equity of 1.85%. During the same quarter in the previous year, the company earned $0.45 earnings per share. On average, equities analysts anticipate that ConocoPhillips will post 3.34 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Friday, May 14th were given a dividend of $0.43 per share. The ex-dividend date was Thursday, May 13th. This represents a $1.72 annualized dividend and a yield of 2.86%. ConocoPhillips’s payout ratio is presently -177.32%.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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