Daiwa Securities Group Inc. Raises Stock Position in ConocoPhillips (NYSE:COP)

Daiwa Securities Group Inc. grew its position in ConocoPhillips (NYSE:COP - Free Report) by 10.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 167,966 shares of the energy producer's stock after acquiring an additional 15,487 shares during the period. Daiwa Securities Group Inc.'s holdings in ConocoPhillips were worth $17,683,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in COP. Garner Asset Management Corp lifted its holdings in shares of ConocoPhillips by 24.5% in the 3rd quarter. Garner Asset Management Corp now owns 22,056 shares of the energy producer's stock valued at $2,322,000 after buying an additional 4,346 shares during the period. Marco Investment Management LLC raised its position in ConocoPhillips by 4.2% in the third quarter. Marco Investment Management LLC now owns 142,268 shares of the energy producer's stock worth $14,978,000 after acquiring an additional 5,795 shares in the last quarter. Summit Trail Advisors LLC lifted its holdings in ConocoPhillips by 2.0% in the third quarter. Summit Trail Advisors LLC now owns 24,070 shares of the energy producer's stock valued at $2,534,000 after acquiring an additional 483 shares during the period. Centaurus Financial Inc. boosted its position in shares of ConocoPhillips by 23.9% during the 3rd quarter. Centaurus Financial Inc. now owns 3,820 shares of the energy producer's stock worth $402,000 after purchasing an additional 737 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of ConocoPhillips by 13.0% during the 3rd quarter. Larson Financial Group LLC now owns 23,659 shares of the energy producer's stock worth $2,491,000 after purchasing an additional 2,724 shares during the period. Hedge funds and other institutional investors own 82.36% of the company's stock.

Analyst Upgrades and Downgrades

COP has been the subject of several recent analyst reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. Truist Financial reduced their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a "buy" rating for the company in a research report on Monday, September 30th. BMO Capital Markets upped their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Finally, Barclays upped their target price on ConocoPhillips from $135.00 to $137.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $137.63.

ConocoPhillips Trading Down 5.1 %

ConocoPhillips stock traded down $5.72 during trading on Monday, hitting $106.03. The company's stock had a trading volume of 23,442,023 shares, compared to its average volume of 5,981,170. The stock'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 stock has a market capitalization of $122.03 billion, a price-to-earnings ratio of 12.61, a P/E/G 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 released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips's revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.16 earnings per share. As a group, equities research analysts predict that ConocoPhillips will post 7.78 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be given a $0.78 dividend. This is a positive change from ConocoPhillips's previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Friday, November 8th. 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.