Nikko Asset Management Americas Inc. Has $1.78 Million Holdings in ConocoPhillips (NYSE:COP)

Nikko Asset Management Americas Inc. decreased its position in shares of ConocoPhillips (NYSE:COP) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,906 shares of the energy producer’s stock after selling 747 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in ConocoPhillips were worth $1,776,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Cypress Capital Group increased its stake in shares of ConocoPhillips by 0.5% in the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after buying an additional 96 shares during the period. Orrstown Financial Services Inc. boosted its position in ConocoPhillips by 3.0% during the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock worth $331,000 after buying an additional 96 shares during the period. Smithfield Trust Co increased its position in ConocoPhillips by 3.3% in the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock valued at $332,000 after acquiring an additional 100 shares during the period. Principle Wealth Partners LLC lifted its holdings in shares of ConocoPhillips by 0.3% during the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock worth $3,695,000 after purchasing an additional 100 shares during the period. Finally, Arlington Trust Co LLC lifted its holdings in shares of ConocoPhillips by 1.2% during the fourth quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock worth $857,000 after purchasing an additional 102 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the topic of several recent research reports. JPMorgan Chase & Co. cut their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Morgan Stanley started coverage on shares of ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target for the company. Raymond James downgraded shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Finally, TD Cowen started coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 target price for the company. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.05.

Insider Activity

In other ConocoPhillips news, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.34% of the company’s stock.

ConocoPhillips Trading Up 0.5 %

COP opened at $99.42 on Tuesday. The company’s 50-day moving average is $99.22 and its 200 day moving average is $103.65. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a fifty-two week low of $86.81 and a fifty-two week high of $135.18. The firm has a market capitalization of $126.50 billion, a PE ratio of 12.76, a P/E/G ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last released its earnings results 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%. As a group, research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.14%. ConocoPhillips’s dividend payout ratio is presently 40.05%.

About ConocoPhillips

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.