ConocoPhillips (NYSE:COP) Shares Sold by Allianz SE

Allianz SE cut its stake in ConocoPhillips (NYSE:COP) by 87.0% during the 1st quarter, HoldingsChannel reports. The fund owned 9,493 shares of the energy producer’s stock after selling 63,696 shares during the period. Allianz SE’s holdings in ConocoPhillips were worth $997,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. 10Elms LLP acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at about $28,000. Garde Capital Inc. acquired a new stake in ConocoPhillips during the first quarter valued at approximately $35,000. IMA Advisory Services Inc. acquired a new stake in ConocoPhillips during the first quarter valued at approximately $37,000. Fourth Dimension Wealth LLC bought a new position in ConocoPhillips during the 4th quarter worth approximately $39,000. Finally, MorganRosel Wealth Management LLC acquired a new position in shares of ConocoPhillips in the 1st quarter worth approximately $42,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Down 2.7%

NYSE:COP opened at $92.75 on Monday. The stock has a market cap of $117.25 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 2.41 and a beta of 0.67. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. The business has a fifty day moving average of $91.97 and a 200-day moving average of $93.99.

ConocoPhillips (NYSE:COP) last announced 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 quarter in the prior year, the firm posted $2.05 EPS. Equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors 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 dividend yield of 3.4%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s dividend payout ratio (DPR) is currently 39.64%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. UBS Group upped their price target on ConocoPhillips from $111.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Citigroup dropped their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, June 11th. Scotiabank raised their price target on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a research report on Friday, July 11th. Piper Sandler reaffirmed an “overweight” rating and set a $123.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research report on Tuesday, July 15th. Finally, Bank of America dropped their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.33.

Insider Activity at ConocoPhillips

In other news, EVP Kirk L. Johnson bought 5,300 shares of the business’s stock in a transaction on Monday, June 16th. The stock was purchased at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the transaction, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is owned by corporate insiders.

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.