Sumitomo Mitsui Trust Holdings Inc. Has $399.07 Million Stock Position in ConocoPhillips (NYSE:COP)

Sumitomo Mitsui Trust Holdings Inc. grew its position in ConocoPhillips (NYSE:COP) by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,135,332 shares of the energy producer’s stock after buying an additional 46,252 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.27% of ConocoPhillips worth $399,065,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Orion Capital Management LLC purchased a new stake in shares of ConocoPhillips in the third quarter worth approximately $27,000. West Branch Capital LLC raised its position in ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after acquiring an additional 108 shares in the last quarter. Sachetta LLC bought a new position in ConocoPhillips during the fourth quarter valued at approximately $27,000. Cooksen Wealth LLC bought a new position in ConocoPhillips during the fourth quarter valued at approximately $27,000. Finally, Cape Investment Advisory Inc. raised its position in ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 121 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

COP traded up $1.33 during trading hours on Wednesday, reaching $115.45. The company’s stock had a trading volume of 644,634 shares, compared to its average volume of 5,629,726. ConocoPhillips has a 52 week low of $99.35 and a 52 week high of $135.18. The company’s 50-day moving average is $118.00 and its 200-day moving average is $117.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. The firm has a market cap of $135.02 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 2.04 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The firm had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. On average, equities analysts forecast that ConocoPhillips will post 8.89 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.70%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on COP. Scotiabank increased their price target on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Truist Financial lifted their price target on shares of ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. Raymond James reissued a “strong-buy” rating and set a $159.00 price objective (up from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Royal Bank of Canada lifted their price target on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Finally, Mizuho dropped their price objective on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a report on Wednesday, June 5th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $144.18.

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.