Dai ichi Life Insurance Company Ltd Has $10.96 Million Stake in ConocoPhillips (NYSE:COP)

Dai ichi Life Insurance Company Ltd cut its stake in ConocoPhillips (NYSE:COP - Free Report) by 12.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,070 shares of the energy producer's stock after selling 15,348 shares during the period. Dai ichi Life Insurance Company Ltd's holdings in ConocoPhillips were worth $10,956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of COP. EntryPoint Capital LLC acquired a new stake in shares of ConocoPhillips in the 1st quarter valued at $46,000. Waverly Advisors LLC increased its position in ConocoPhillips by 33.1% in the first quarter. Waverly Advisors LLC now owns 8,131 shares of the energy producer's stock worth $1,035,000 after purchasing an additional 2,023 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in ConocoPhillips by 5.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 40,693 shares of the energy producer's stock worth $4,899,000 after purchasing an additional 2,201 shares during the last quarter. Redwood Investment Management LLC lifted its position in ConocoPhillips by 1.0% during the 1st quarter. Redwood Investment Management LLC now owns 13,996 shares of the energy producer's stock valued at $1,781,000 after purchasing an additional 140 shares during the period. Finally, Creekmur Asset Management LLC boosted its stake in shares of ConocoPhillips by 16.2% in the 1st quarter. Creekmur Asset Management LLC now owns 780 shares of the energy producer's stock valued at $99,000 after purchasing an additional 109 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on COP. Scotiabank dropped their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating for the company in a research note on Thursday, October 10th. Mizuho increased their price target on ConocoPhillips from $129.00 to $132.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. BMO Capital Markets lifted their price objective on ConocoPhillips from $123.00 to $125.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. Barclays increased their target price on ConocoPhillips from $135.00 to $137.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company restated a "sector perform" rating on shares of ConocoPhillips in a research report on Friday, October 18th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, ConocoPhillips has a consensus rating of "Moderate Buy" and an average target price of $137.63.

ConocoPhillips Stock Up 1.0 %

NYSE COP traded up $1.01 on Tuesday, reaching $107.11. The company had a trading volume of 5,705,651 shares, compared to its average volume of 5,979,458. The company's fifty day moving average is $108.92 and its 200-day moving average is $111.11. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The firm has a market capitalization of $123.27 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips's quarterly revenue was down 8.5% on a year-over-year basis. During the same period last year, the company earned $2.16 earnings per share. On average, research analysts forecast that ConocoPhillips will post 7.78 earnings per share for the current fiscal 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 issued a $0.78 dividend. The ex-dividend date is Friday, November 8th. This is an increase from ConocoPhillips's previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.91%. ConocoPhillips's dividend payout ratio (DPR) is 37.10%.

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.