Daiwa Securities Group Inc. Has $17.68 Million Stock Position in ConocoPhillips (NYSE:COP)

Daiwa Securities Group Inc. increased its position in shares of ConocoPhillips (NYSE:COP) by 10.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,966 shares of the energy producer’s stock after acquiring an additional 15,487 shares during the quarter. Daiwa Securities Group Inc.’s holdings in ConocoPhillips were worth $17,683,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in COP. Manning & Napier Advisors LLC purchased a new stake in shares of ConocoPhillips in the second quarter valued at $30,021,000. Alpha DNA Investment Management LLC lifted its stake in ConocoPhillips by 83.8% in the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock worth $1,879,000 after acquiring an additional 7,490 shares in the last quarter. Prospera Financial Services Inc boosted its position in ConocoPhillips by 23.6% during the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock worth $7,488,000 after acquiring an additional 13,595 shares during the period. Pacer Advisors Inc. grew its stake in ConocoPhillips by 5,422.3% during the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock valued at $482,996,000 after acquiring an additional 4,504,653 shares in the last quarter. Finally, TCW Group Inc. increased its holdings in shares of ConocoPhillips by 37.8% in the 2nd quarter. TCW Group Inc. now owns 30,026 shares of the energy producer’s stock valued at $3,434,000 after purchasing an additional 8,231 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on COP shares. Barclays boosted their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Truist Financial cut their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, BMO Capital Markets boosted their price target on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $137.63.

ConocoPhillips Stock Down 0.1 %

ConocoPhillips stock opened at $111.75 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The firm has a fifty day moving average price of $108.91 and a two-hundred day moving average price of $111.23. The firm has a market cap of $128.61 billion, a price-to-earnings ratio of 13.29, a P/E/G ratio of 0.91 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same period in the previous year, the company posted $2.16 earnings per share. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. As a group, analysts forecast that ConocoPhillips will post 7.78 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm 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 $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.79%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. ConocoPhillips’s dividend payout ratio is currently 37.10%.

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.