Sumitomo Mitsui Trust Group Inc. Has $308.75 Million Stock Position in ConocoPhillips (NYSE:COP)

Sumitomo Mitsui Trust Group Inc. raised its holdings in ConocoPhillips (NYSE:COP) by 0.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,932,640 shares of the energy producer’s stock after purchasing an additional 2,239 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.25% of ConocoPhillips worth $308,748,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bleakley Financial Group LLC boosted its position in ConocoPhillips by 5.3% during the first quarter. Bleakley Financial Group LLC now owns 33,371 shares of the energy producer’s stock valued at $4,247,000 after acquiring an additional 1,672 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of ConocoPhillips during the 1st quarter valued at $3,656,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in ConocoPhillips by 4.2% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 50,075 shares of the energy producer’s stock worth $6,374,000 after acquiring an additional 2,041 shares in the last quarter. Patton Fund Management Inc. increased its stake in ConocoPhillips by 60.9% in the first quarter. Patton Fund Management Inc. now owns 3,623 shares of the energy producer’s stock valued at $461,000 after purchasing an additional 1,371 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in ConocoPhillips by 34.7% in the first quarter. TD Asset Management Inc now owns 2,762,431 shares of the energy producer’s stock valued at $351,602,000 after purchasing an additional 712,062 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP opened at $112.08 on Tuesday. The business has a 50-day simple moving average of $107.69 and a two-hundred day simple moving average of $112.04. The stock has a market cap of $128.99 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 0.91 and a beta of 1.21. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the previous year, the company earned $2.16 EPS. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. On average, analysts expect that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be paid a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Friday, November 8th. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wolfe Research began coverage on shares of ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price for the company. Mizuho lifted their target price on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Susquehanna increased their price target on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. BMO Capital Markets boosted their price objective on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $137.47.

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.