Resona Asset Management Co. Ltd. Has $50.63 Million Holdings in ConocoPhillips $COP

Resona Asset Management Co. Ltd. raised its holdings in shares of ConocoPhillips (NYSE:COP) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 383,118 shares of the energy producer’s stock after acquiring an additional 5,359 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in ConocoPhillips were worth $50,634,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $25,000. KERR FINANCIAL PLANNING Corp acquired a new position in ConocoPhillips in the 3rd quarter valued at approximately $28,000. Board of the Pension Protection Fund acquired a new position in ConocoPhillips in the 4th quarter valued at approximately $28,000. Strive Asset Management LLC purchased a new stake in ConocoPhillips in the 3rd quarter worth approximately $28,000. Finally, BNP Paribas purchased a new stake in ConocoPhillips in the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada set a $130.00 price target on shares of ConocoPhillips in a report on Monday, June 22nd. Wolfe Research increased their price objective on ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Argus lifted their price objective on ConocoPhillips from $128.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Piper Sandler boosted their target price on ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Finally, Susquehanna upped their target price on ConocoPhillips from $149.00 to $152.00 in a research report on Friday, May 1st. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $134.04.

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Crude oil prices surged after escalating Middle East conflict and shipping disruptions, lifting sentiment on COP because higher oil prices can translate into stronger upstream earnings and cash flow. Why ConocoPhillips Stock Is Rising Wednesday
• Positive Sentiment: ConocoPhillips was highlighted as trading below fair value in a valuation-focused article, suggesting some investors still see upside if oil prices remain elevated. Is ConocoPhillips (COP) Still Below Fair Value After Oil Prices Jumped?
• Positive Sentiment: Evercore ISI reportedly maintained a buy rating on COP, reinforcing a constructive analyst view despite recent volatility. Conocophillips (COP) Receives a Buy from Evercore ISI
• Neutral Sentiment: Truist lowered its price target to $115 from $128 and kept a hold rating, which is a modest headwind but still implies limited upside from current levels. Benzinga analyst update
• Neutral Sentiment: Recent index-related buying and broad energy-stock enthusiasm have also helped support the shares, but these factors are secondary to the oil-price move. How Investors May Respond To ConocoPhillips (COP) Shelf Moves Amid Index Shift And Oil Shock

ConocoPhillips Stock Performance

Shares of COP opened at $110.58 on Thursday. The company’s fifty day moving average is $114.85 and its 200-day moving average is $112.57. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.87. The firm has a market cap of $134.71 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 1.26 and a beta of 0.12. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the previous year, the business earned $2.09 EPS. ConocoPhillips’s quarterly revenue was down 6.1% compared to the same quarter last year. Equities analysts expect that ConocoPhillips will post 9.57 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 3.0%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is 57.05%.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.