Nikko Asset Management Americas Inc. Sells 121 Shares of ConocoPhillips (NYSE:COP)

Nikko Asset Management Americas Inc. trimmed its holdings in ConocoPhillips (NYSE:COP) by 0.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,105 shares of the energy producer’s stock after selling 121 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in ConocoPhillips were worth $2,814,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Cardinal Capital Management Inc. purchased a new position in ConocoPhillips during the 4th quarter valued at approximately $13,468,000. Columbia Trust Co 01012016 increased its position in ConocoPhillips by 1.2% in the fourth quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock worth $1,098,000 after purchasing an additional 112 shares during the last quarter. Raymond James & Associates raised its stake in ConocoPhillips by 1.5% during the fourth quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock valued at $181,422,000 after purchasing an additional 23,572 shares in the last quarter. Harbor Investment Advisory LLC lifted its position in ConocoPhillips by 2.2% during the first quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock valued at $1,234,000 after purchasing an additional 212 shares during the last quarter. Finally, Quotient Wealth Partners LLC purchased a new position in shares of ConocoPhillips in the 4th quarter worth $5,594,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Down 0.9 %

COP stock traded down $1.01 during mid-day trading on Tuesday, reaching $111.22. The company had a trading volume of 3,460,437 shares, compared to its average volume of 5,605,759. The company has a market capitalization of $130.08 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 2.01 and a beta of 1.23. The firm has a 50 day moving average of $116.37 and a 200 day moving average of $117.54. ConocoPhillips has a 12 month low of $102.75 and a 12 month high of $135.18. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.04. The company had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. On average, equities analysts predict that ConocoPhillips will post 8.89 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.81%. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Analyst Upgrades and Downgrades

COP has been the topic of several recent research reports. Royal Bank of Canada upped their target price on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. Wells Fargo & Company upped their price objective on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Argus raised ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Morgan Stanley boosted their target price on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, Mizuho lowered their price target on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. Five equities 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 stock. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $145.69.

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.