Daiwa Securities Group Inc. Has $20.98 Million Stock Holdings in ConocoPhillips $COP

Daiwa Securities Group Inc. trimmed its position in ConocoPhillips (NYSE:COP) by 12.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 224,167 shares of the energy producer’s stock after selling 32,249 shares during the period. Daiwa Securities Group Inc.’s holdings in ConocoPhillips were worth $20,984,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Strive Asset Management LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $28,000. Board of the Pension Protection Fund bought a new stake in ConocoPhillips during the 4th quarter worth approximately $28,000. KERR FINANCIAL PLANNING Corp bought a new stake in ConocoPhillips during the 3rd quarter worth approximately $28,000. BNP Paribas bought a new stake in ConocoPhillips during the 2nd quarter worth approximately $33,000. Finally, Optima Capital LLC bought a new stake in ConocoPhillips during the 4th quarter worth approximately $34,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 1.8%

Shares of ConocoPhillips stock opened at $117.10 on Friday. The business has a fifty day simple moving average of $122.08 and a two-hundred day simple moving average of $109.43. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The company has a market capitalization of $142.66 billion, a price-to-earnings ratio of 19.88, a P/E/G ratio of 1.32 and a beta of 0.11. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter last year, the firm posted $2.09 EPS. The company’s quarterly revenue was down 6.1% on a year-over-year basis. Research analysts forecast that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. ConocoPhillips’s dividend payout ratio (DPR) is currently 57.05%.

Analysts Set New Price Targets

A number of research firms recently issued reports on COP. Citigroup increased their target price on ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. The Goldman Sachs Group increased their target price on ConocoPhillips from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Wells Fargo & Company increased their target price on ConocoPhillips from $132.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Wolfe Research increased their target price on ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Finally, Piper Sandler increased their target price on ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Seventeen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $134.48.

Insider Activity at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 113,221 shares of the business’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total value of $15,025,558.91. Following the completion of the transaction, the chief executive officer owned 350,000 shares of the company’s stock, valued at $46,448,500. The trade was a 24.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Heather G. Hrap sold 2,654 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $119.68, for a total value of $317,630.72. Following the completion of the transaction, the senior vice president directly owned 5,663 shares of the company’s stock, valued at approximately $677,747.84. This trade represents a 31.91% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 694,891 shares of company stock valued at $88,594,092. 0.09% of the stock is currently owned by insiders.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.