Rakuten Investment Management Inc. Has $15.11 Million Holdings in ConocoPhillips $COP

by · The Markets Daily

Rakuten Investment Management Inc. lifted its position in shares of ConocoPhillips (NYSE:COP – Free Report) by 73.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 163,118 shares of the energy producer’s stock after buying an additional 69,151 shares during the quarter. Rakuten Investment Management Inc.’s holdings in ConocoPhillips were worth $15,110,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Nicolet Advisory Services LLC increased its position in shares of ConocoPhillips by 0.9% during the fourth quarter. Nicolet Advisory Services LLC now owns 10,352 shares of the energy producer’s stock worth $989,000 after buying an additional 95 shares during the period. Duncan Williams Asset Management LLC increased its position in shares of ConocoPhillips by 4.4% during the fourth quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer’s stock worth $222,000 after buying an additional 100 shares during the period. Wedge Capital Management L L P NC increased its position in shares of ConocoPhillips by 4.1% during the fourth quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock worth $241,000 after buying an additional 101 shares during the period. Strategic Blueprint LLC increased its position in shares of ConocoPhillips by 1.3% during the fourth quarter. Strategic Blueprint LLC now owns 8,018 shares of the energy producer’s stock worth $751,000 after buying an additional 101 shares during the period. Finally, Chesapeake Wealth Management increased its position in shares of ConocoPhillips by 1.5% during the fourth quarter. Chesapeake Wealth Management now owns 7,160 shares of the energy producer’s stock worth $670,000 after buying an additional 103 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of research reports. Barclays raised their price target on shares of ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Wolfe Research raised their price target on shares of ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Zacks Research cut shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Susquehanna raised their price target on shares of ConocoPhillips from $149.00 to $152.00 in a report on Friday, May 1st. Seventeen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.48.

Get Our Latest Analysis on COP

ConocoPhillips Stock Down 4.1%

COP opened at $112.14 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The company’s 50-day moving average is $120.26 and its 200 day moving average is $110.80. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87. The firm has a market capitalization of $136.62 billion, a P/E ratio of 19.04, a PEG ratio of 1.30 and a beta of 0.11.

ConocoPhillips (NYSE:COP – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The company had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm’s revenue was down 6.1% on a year-over-year basis. During the same period last year, the firm earned $2.09 earnings per share. Research analysts expect that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a $0.84 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 3.0%. ConocoPhillips’s payout ratio is 57.05%.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

  • Positive Sentiment: ConocoPhillips is betting on Alaska’s North Slope, where the $9 billion Willow project could eventually add about $4 billion in annual incremental cash flow and help the company double free cash flow by 2029. Article Title
  • Positive Sentiment: Reports say ConocoPhillips is set to sign a deal with Syria’s new government to revive gas production, which could open a new source of growth and mark the first agreement by a U.S. energy major with Damascus. Article Title
  • Neutral Sentiment: The stock may also be attracting attention from traders after coverage of option strategies that point to elevated near-term volatility tied to oil prices. Article Title
  • Negative Sentiment: Energy shares were hit after oil prices slumped on the U.S.-Iran deal, with ConocoPhillips among the stocks moving lower as investors priced in less geopolitical risk and potentially softer crude prices. Article Title

Insider Activity

In related news, EVP Nicholas G. Olds sold 6,994 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $127.06, for a total transaction of $888,657.64. Following the sale, the executive vice president owned 5,395 shares of the company’s stock, valued at approximately $685,488.70. This represents a 56.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Michael Lance sold 113,221 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the sale, the chief executive officer directly owned 350,000 shares in the company, valued at $46,448,500. This trade represents a 24.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 634,715 shares of company stock valued at $81,410,816 over the last quarter. Company insiders own 0.09% of the company’s stock.

ConocoPhillips Profile

(Free Report)

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.

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