Mitsubishi UFJ Trust & Banking Corp Purchases 169,033 Shares of ConocoPhillips (NYSE:COP)

Mitsubishi UFJ Trust & Banking Corp raised its position in shares of ConocoPhillips (NYSE:COP) by 28.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 765,209 shares of the energy producer’s stock after acquiring an additional 169,033 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.07% of ConocoPhillips worth $75,886,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Albion Financial Group UT boosted its stake in ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares during the period. Centricity Wealth Management LLC bought a new position in ConocoPhillips in the 4th quarter worth approximately $27,000. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips during the third quarter worth approximately $31,000. Crowley Wealth Management Inc. bought a new stake in shares of ConocoPhillips in the fourth quarter valued at approximately $32,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of ConocoPhillips in the third quarter worth $35,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

NYSE:COP opened at $102.44 on Wednesday. The stock has a market capitalization of $130.34 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18. The firm has a 50 day moving average of $99.12 and a 200-day moving average of $103.31.

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

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.05%. ConocoPhillips’s dividend payout ratio (DPR) is 40.05%.

Analyst Ratings Changes

Several research firms recently commented on COP. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a research note on Thursday, January 30th. Morgan Stanley began coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective for the company. UBS Group decreased their target price on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Piper Sandler lowered their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. reduced their price objective on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $133.05.

About ConocoPhillips

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.