Resona Asset Management Co. Ltd. Takes Position in ConocoPhillips (NYSE:COP)

Resona Asset Management Co. Ltd. bought a new stake in ConocoPhillips (NYSE:COP - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 379,274 shares of the energy producer's stock, valued at approximately $37,494,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of ConocoPhillips by 11.7% in the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock valued at $12,081,491,000 after buying an additional 12,751,120 shares during the last quarter. Wellington Management Group LLP raised its holdings in ConocoPhillips by 20.2% in the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer's stock valued at $3,280,725,000 after acquiring an additional 5,240,016 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in ConocoPhillips by 401.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer's stock worth $438,690,000 after buying an additional 3,541,504 shares in the last quarter. Geode Capital Management LLC increased its stake in ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock valued at $2,792,521,000 after acquiring an additional 3,397,360 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in ConocoPhillips during the fourth quarter worth about $232,859,000. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Stock Down 0.6 %

Shares of COP stock traded down $0.56 during trading hours on Monday, reaching $85.74. 12,868,881 shares of the company's stock were exchanged, compared to its average volume of 6,909,671. The stock has a market cap of $108.38 billion, a PE ratio of 11.01, a PEG ratio of 0.79 and a beta of 0.83. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock's fifty day moving average price is $98.53 and its two-hundred day moving average price is $103.06. ConocoPhillips has a 1 year low of $81.34 and a 1 year high of $135.18.

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ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly 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%. Research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips's dividend payout ratio (DPR) is presently 40.05%.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. JPMorgan Chase & Co. lowered their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a research report on Thursday, January 30th. TD Cowen initiated coverage on ConocoPhillips in a report on Friday, January 17th. They issued a "buy" rating and a $125.00 price objective for the company. Finally, Raymond James lowered ConocoPhillips from a "strong-buy" rating to an "outperform" rating and reduced their target price for the company from $157.00 to $124.00 in a report on Monday, February 10th. Two equities 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.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $131.84.

ConocoPhillips 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.