Mitsubishi UFJ Asset Management Co. Ltd. Has $205.82 Million Position in ConocoPhillips (NYSE:COP)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of ConocoPhillips (NYSE:COP) by 21.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,035,964 shares of the energy producer’s stock after purchasing an additional 357,457 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in ConocoPhillips were worth $205,816,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Korea Investment CORP boosted its holdings in shares of ConocoPhillips by 0.3% during the 4th quarter. Korea Investment CORP now owns 1,054,671 shares of the energy producer’s stock worth $104,592,000 after buying an additional 3,424 shares during the period. Tyler Stone Wealth Management lifted its position in ConocoPhillips by 22.8% during the 4th quarter. Tyler Stone Wealth Management now owns 6,708 shares of the energy producer’s stock worth $665,000 after acquiring an additional 1,245 shares during the last quarter. Aviso Wealth Management bought a new stake in ConocoPhillips during the fourth quarter valued at about $398,000. Heritage Wealth Advisors grew its position in shares of ConocoPhillips by 5.4% in the fourth quarter. Heritage Wealth Advisors now owns 419,959 shares of the energy producer’s stock valued at $41,647,000 after purchasing an additional 21,380 shares during the last quarter. Finally, Graney & King LLC bought a new position in shares of ConocoPhillips in the fourth quarter worth about $49,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Piper Sandler decreased their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Raymond James cut ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $157.00 to $124.00 in a research report on Monday, February 10th. Truist Financial raised their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their target price for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Finally, Barclays decreased their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $133.05.

ConocoPhillips Trading Up 0.6 %

Shares of COP opened at $103.15 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock has a market cap of $131.25 billion, a PE ratio of 13.24, a PEG ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18. The stock has a 50 day simple moving average of $99.08 and a 200-day simple moving average of $103.31.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

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.