Resona Asset Management Co. Ltd. Has $37.57 Million Holdings in ConocoPhillips $COP

Resona Asset Management Co. Ltd. grew its holdings in ConocoPhillips (NYSE:COP) by 2.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 418,373 shares of the energy producer’s stock after purchasing an additional 11,676 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in ConocoPhillips were worth $37,572,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Aberdeen Group plc boosted its stake in ConocoPhillips by 49.3% during the 1st quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock worth $83,969,000 after acquiring an additional 264,726 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in ConocoPhillips by 17.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer’s stock worth $13,927,000 after acquiring an additional 22,827 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in ConocoPhillips by 2.4% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,395,546 shares of the energy producer’s stock worth $304,716,000 after acquiring an additional 78,642 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in ConocoPhillips by 17.7% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 37,361 shares of the energy producer’s stock worth $3,924,000 after acquiring an additional 5,627 shares during the last quarter. Finally, Lynx Investment Advisory boosted its stake in ConocoPhillips by 316.6% during the 1st quarter. Lynx Investment Advisory now owns 10,769 shares of the energy producer’s stock worth $1,131,000 after acquiring an additional 8,184 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on COP. Morgan Stanley dropped their target price on shares of ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating on the stock in a report on Tuesday, October 14th. JPMorgan Chase & Co. raised their target price on shares of ConocoPhillips from $114.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, October 9th. Mizuho dropped their target price on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Weiss Ratings downgraded shares of ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 24th. Finally, Barclays dropped their target price on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Eighteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $114.63.

ConocoPhillips Price Performance

NYSE COP opened at $87.79 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $115.38. The company has a market capitalization of $109.65 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 2.36 and a beta of 0.62. The firm’s 50 day moving average is $92.08 and its 200-day moving average is $92.03.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. The company had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company earned $1.98 earnings per share. Equities research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

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, 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.