Daiwa Securities Group Inc. Has $17.68 Million Holdings in ConocoPhillips (NYSE:COP)

Daiwa Securities Group Inc. lifted its position in ConocoPhillips (NYSE:COP) by 10.2% in the third quarter, HoldingsChannel.com reports. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in shares of ConocoPhillips in the 1st quarter valued at approximately $46,000. Silvercrest Asset Management Group LLC grew its position in ConocoPhillips by 1.5% in the first quarter. Silvercrest Asset Management Group LLC now owns 270,009 shares of the energy producer’s stock valued at $34,367,000 after acquiring an additional 3,888 shares during the period. Waverly Advisors LLC raised its stake in ConocoPhillips by 33.1% during the first quarter. Waverly Advisors LLC now owns 8,131 shares of the energy producer’s stock worth $1,035,000 after acquiring an additional 2,023 shares in the last quarter. Industrial Alliance Investment Management Inc. lifted its holdings in shares of ConocoPhillips by 4.4% during the first quarter. Industrial Alliance Investment Management Inc. now owns 5,064 shares of the energy producer’s stock valued at $645,000 after acquiring an additional 213 shares during the period. Finally, Dynasty Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the 1st quarter valued at $1,283,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Down 0.1 %

Shares of NYSE COP opened at $111.75 on Monday. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The firm has a market capitalization of $128.61 billion, a P/E ratio of 13.29, 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 current ratio of 1.30 and a quick ratio of 1.16. The company’s 50 day simple moving average is $108.91 and its 200 day simple moving average is $111.23.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter in the previous year, the company posted $2.16 EPS. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. On average, analysts predict that ConocoPhillips will post 7.78 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 2.79%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a research report on Friday, September 13th. Susquehanna lifted their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Finally, Truist Financial decreased their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $137.63.

About ConocoPhillips

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.