Mirae Asset Global Investments Co. Ltd. decreased its stake in shares of ConocoPhillips (NYSE:COP – Free Report) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 265,918 shares of the energy producer’s stock after selling 3,701 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in ConocoPhillips were worth $27,552,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the stock. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of ConocoPhillips by 97,756.1% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,354,810,556 shares of the energy producer’s stock valued at $140,371,922,000 after purchasing an additional 1,353,426,064 shares during the period. Wellington Management Group LLP raised its position in shares of ConocoPhillips by 2.6% during the first quarter. Wellington Management Group LLP now owns 44,731,153 shares of the energy producer’s stock worth $4,437,778,000 after purchasing an additional 1,138,607 shares during the period. Morgan Stanley boosted its position in shares of ConocoPhillips by 26.6% in the 4th quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock valued at $1,964,432,000 after purchasing an additional 3,497,750 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in ConocoPhillips by 98,832.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock worth $1,012,956,000 after buying an additional 8,575,696 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in ConocoPhillips by 2.1% during the second quarter. Fisher Asset Management LLC now owns 7,168,823 shares of the energy producer’s stock valued at $742,865,000 after buying an additional 146,064 shares in the last quarter. Institutional investors own 80.36% of the company’s stock.
Insider Transactions at ConocoPhillips
In related news, CEO Ryan Michael Lance sold 569,400 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $122.14, for a total transaction of $69,546,516.00. Following the completion of the transaction, the chief executive officer now owns 18,187 shares in the company, valued at $2,221,360.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Sharmila Mulligan sold 1,849 shares of ConocoPhillips stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $125.19, for a total transaction of $231,476.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Michael Lance sold 569,400 shares of ConocoPhillips stock in a transaction on Friday, September 1st. The stock was sold at an average price of $122.14, for a total value of $69,546,516.00. Following the sale, the chief executive officer now directly owns 18,187 shares of the company’s stock, valued at approximately $2,221,360.18. The disclosure for this sale can be found here. Insiders sold 646,049 shares of company stock valued at $78,636,116 in the last ninety days. 0.37% of the stock is currently owned by corporate insiders.
ConocoPhillips Trading Up 0.7 %
ConocoPhillips Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 14th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Monday, November 13th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.51. ConocoPhillips’s dividend payout ratio (DPR) is currently 25.36%.
Wall Street Analysts Forecast Growth
COP has been the topic of several research analyst reports. Wells Fargo & Company boosted their price target on shares of ConocoPhillips from $134.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Truist Financial raised their price target on ConocoPhillips from $151.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, September 18th. Johnson Rice began coverage on ConocoPhillips in a research note on Tuesday, November 14th. They issued an “accumulate” rating and a $135.00 price target for the company. Royal Bank of Canada boosted their target price on shares of ConocoPhillips from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 14th. Finally, Erste Group Bank raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Five research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $136.35.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.
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