DekaBank Deutsche Girozentrale Reduces Holdings in ConocoPhillips (NYSE:COP)

DekaBank Deutsche Girozentrale reduced its position in ConocoPhillips (NYSE:COP) by 9.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,840,035 shares of the energy producer’s stock after selling 188,885 shares during the period. DekaBank Deutsche Girozentrale owned about 0.15% of ConocoPhillips worth $186,704,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in ConocoPhillips by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock worth $4,546,706,000 after acquiring an additional 5,549,078 shares during the period. Elevation Point Wealth Partners LLC boosted its holdings in shares of ConocoPhillips by 83.0% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer’s stock valued at $1,897,000 after purchasing an additional 8,189 shares during the last quarter. Schwartz Investment Counsel Inc. lifted its holdings in shares of ConocoPhillips by 159.6% during the 1st quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer’s stock valued at $5,125,000 after acquiring an additional 30,000 shares in the last quarter. Hennessy Advisors Inc. lifted its holdings in shares of ConocoPhillips by 151.1% during the 1st quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer’s stock valued at $9,580,000 after acquiring an additional 54,900 shares in the last quarter. Finally, ORG Wealth Partners LLC increased its stake in ConocoPhillips by 853.3% during the 1st quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer’s stock worth $698,000 after buying an additional 5,922 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $109.00 price target (up previously from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Mizuho dropped their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. JPMorgan Chase & Co. dropped their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Morgan Stanley boosted their target price on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Finally, Citigroup dropped their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, June 11th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $121.80.

Insider Transactions at ConocoPhillips

In other news, EVP Kirk L. Johnson bought 5,300 shares of ConocoPhillips stock in a transaction on Monday, June 16th. The stock was purchased at an average cost of $94.24 per share, with a total value of $499,472.00. Following the purchase, the executive vice president directly owned 14,527 shares of the company’s stock, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.24% of the stock is owned by insiders.

ConocoPhillips Stock Performance

ConocoPhillips stock traded up $1.86 during midday trading on Tuesday, reaching $94.41. 419,078 shares of the stock traded hands, compared to its average volume of 7,581,400. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. The firm has a fifty day moving average price of $90.22 and a two-hundred day moving average price of $94.78. The firm has a market cap of $119.35 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 2.53 and a beta of 0.61. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $118.40.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same period in the previous year, the business posted $2.05 EPS. On average, equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s payout ratio is 39.64%.

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.