Mirae Asset Global Investments Co. Ltd. Has $27.55 Million Holdings in ConocoPhillips (NYSE:COP)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in ConocoPhillips (NYSE:COP) by 1.4% in the 2nd quarter, Holdings Channel.com reports. The firm 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 Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of ConocoPhillips by 97,756.1% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,354,810,556 shares of the energy producer’s stock worth $140,371,922,000 after acquiring an additional 1,353,426,064 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in ConocoPhillips by 98,832.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock valued at $1,012,956,000 after purchasing an additional 8,575,696 shares during the last quarter. Morgan Stanley boosted its stake in shares of ConocoPhillips by 26.6% during the fourth 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 in the last quarter. Cowa LLC grew its holdings in shares of ConocoPhillips by 6,475.2% during the first quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock worth $2,383,000 after purchasing an additional 2,339,100 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of ConocoPhillips by 794.6% in the first quarter. Two Sigma Investments LP now owns 2,313,596 shares of the energy producer’s stock valued at $229,532,000 after buying an additional 2,054,974 shares during the period. Institutional investors and hedge funds own 80.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $115.39 on Tuesday. ConocoPhillips has a one year low of $91.53 and a one year high of $130.55. The company has a market cap of $137.02 billion, a P/E ratio of 12.61, a P/E/G ratio of 0.68 and a beta of 1.28. The firm has a 50-day moving average of $119.58 and a 200-day moving average of $112.65. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 1.53.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 14th will be issued a $0.58 dividend. The ex-dividend date is Monday, November 13th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.51. This represents a $2.32 annualized dividend and a dividend yield of 2.01%. ConocoPhillips’s dividend payout ratio is currently 25.36%.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of recent research reports. Erste Group Bank upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Truist Financial raised their price target on shares of ConocoPhillips from $151.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, September 18th. StockNews.com started coverage on shares of ConocoPhillips in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Wells Fargo & Company lifted their target price on shares of ConocoPhillips from $134.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th. Finally, Mizuho upped their price target on shares of ConocoPhillips from $135.00 to $139.00 and gave the company a “neutral” rating in a research report on Monday, September 18th. Five research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $136.35.

Insider Activity at ConocoPhillips

In related news, SVP Andrew D. Lundquist sold 30,800 shares of the stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $123.83, for a total transaction of $3,813,964.00. Following the completion of the transaction, the senior vice president now owns 5,937 shares in the company, valued at $735,178.71. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Andrew D. Lundquist sold 30,800 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $123.83, for a total value of $3,813,964.00. Following the sale, the senior vice president now owns 5,937 shares of the company’s stock, valued at $735,178.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Timothy A. Leach sold 44,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $114.64, for a total transaction of $5,044,160.00. Following the completion of the transaction, the director now directly owns 578,748 shares of the company’s stock, valued at $66,347,670.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 646,049 shares of company stock valued at $78,636,116. 0.37% of the stock is owned by insiders.

ConocoPhillips Company 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 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.