ConocoPhillips $COP Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. cut its stake in ConocoPhillips (NYSE:COP) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,191,033 shares of the energy producer’s stock after selling 19,827 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.10% of ConocoPhillips worth $112,660,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in COP. Howard Hughes Medical Institute acquired a new position in shares of ConocoPhillips in the 2nd quarter worth approximately $25,000. Bogart Wealth LLC raised its holdings in ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after buying an additional 182 shares during the period. Activest Wealth Management boosted its position in shares of ConocoPhillips by 249.5% in the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after buying an additional 232 shares during the period. Cedar Mountain Advisors LLC increased its holdings in shares of ConocoPhillips by 58.0% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 316 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 116 shares during the period. Finally, BNP Paribas purchased a new stake in shares of ConocoPhillips during the second quarter worth $33,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other ConocoPhillips news, CEO Ryan Michael Lance sold 500,708 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $92.50, for a total value of $46,315,490.00. Following the completion of the sale, the chief executive officer directly owned 325,972 shares in the company, valued at approximately $30,152,410. The trade was a 60.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William H. Mcraven bought 5,768 shares of ConocoPhillips stock in a transaction dated Monday, November 10th. The stock was purchased at an average price of $86.68 per share, with a total value of $499,970.24. Following the completion of the purchase, the director owned 5,768 shares in the company, valued at $499,970.24. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.24% of the company’s stock.

ConocoPhillips Stock Up 1.1%

Shares of NYSE:COP opened at $100.94 on Wednesday. ConocoPhillips has a one year low of $79.88 and a one year high of $106.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 1.18. The stock has a market cap of $124.73 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 3.12 and a beta of 0.32. The company has a 50 day moving average of $93.79 and a 200-day moving average of $93.05.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.20. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The company had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. During the same quarter in the prior year, the firm earned $1.78 earnings per share. The firm’s revenue was up 14.1% compared to the same quarter last year. On average, sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were given a $0.84 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date was Monday, November 17th. This represents a $3.36 annualized dividend and a yield of 3.3%. ConocoPhillips’s dividend payout ratio is currently 47.52%.

Analyst Ratings Changes

A number of research firms have issued reports on COP. Jefferies Financial Group reiterated a “buy” rating on shares of ConocoPhillips in a research note on Monday, December 15th. The Goldman Sachs Group raised their target price on ConocoPhillips from $108.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Morgan Stanley cut their price objective on ConocoPhillips from $117.00 to $108.00 and set an “overweight” rating on the stock in a research note on Friday. Capital One Financial lifted their price target on shares of ConocoPhillips from $111.00 to $116.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 20th. Finally, Royal Bank Of Canada raised their target price on shares of ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Sixteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $110.96.

About ConocoPhillips

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.