Deutsche Bank AG cut its stake in ConocoPhillips (NYSE: COP – Get Rating) by 10.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,104,843 shares of the energy producer’s stock after selling 570,266 shares during the period. Deutsche Bank AG’s holdings in ConocoPhillips were worth $ 368,468,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Delos Wealth Advisors LLC lifted its position in ConocoPhillips by 1,300.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 378 shares of the energy producer’s stock worth $ 27,000 after buying an additional 351 shares during the last quarter. Lenox Wealth Advisors LLC lifted its position in shares of ConocoPhillips by 435.6% during the fourth quarter. Lenox Wealth Advisors LLC now owns 482 shares of the energy producer’s stock worth $ 35,000 after purchasing an additional 392 shares during the last quarter. Pittenger & Anderson Inc. lifted its position in shares of ConocoPhillips by 49.9% during the fourth quarter. Pittenger & Anderson Inc. now owns 526 shares of the energy producer’s stock worth $ 38,000 after purchasing an additional 175 shares during the last quarter. Covestor Ltd bought a new stake in shares of ConocoPhillips during the fourth quarter worth $ 49,000. Finally, Crewe Advisors LLC lifted its position in shares of ConocoPhillips by 128.6% during the fourth quarter. Crewe Advisors LLC now owns 711 shares of the energy producer’s stock worth $ 51,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 78.80% of the company stock.
Several analysts have recently weighed in on COP shares. Susquehanna Bancshares lifted their target price on ConocoPhillips from $ 108.00 to $ 129.00 in a research report on Monday, April 25th. Morgan Stanley decreased their target price on ConocoPhillips from $ 120.00 to $ 118.00 and set an “overweight” rating for the company in a research report on Monday, June 6th. Mizuho lifted their target price on ConocoPhillips from $ 150.00 to $ 157.00 and gave the stock a “buy” rating in a research report on Tuesday, May 31st. Barclays lifted their price objective on ConocoPhillips from $ 132.00 to $ 142.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Scotiabank upgraded ConocoPhillips from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $ 110.00 to $ 115.00 in a report on Monday, April 18th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Buy” and a consensus target price of $ 108.61.
In related news, CEO Ryan Michael Lance sold 584,900 shares of the company stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $ 121.21, for a total value of $ 70,895,729.00. Following the sale, the chief executive officer now owns 44,522 shares in the company, valued at $ 5,396,511.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nicholas G. Olds sold 19,200 shares of the company stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $ 110.51, for a total value of $ 2,121,792.00. The disclosure for this sale can be found here. Insiders have sold 644,703 shares of company stock worth $ 77,172,426 in the last 90 days. Insiders own 0.40% of the company stock.
Shares of COP stock opened at $ 111.49 on Wednesday. ConocoPhillips has a fifty-two week low of $ 51.41 and a fifty-two week high of $ 124.08. The firm has a market capitalization of $ 144.21 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 0.41 and a beta of 1.34. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.41 and a current ratio of 1.51. The stock’s 50-day simple moving average is $ 105.19 and its 200-day simple moving average is $ 93.20.
ConocoPhillips (NYSE: COP – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The energy producer reported $ 3.27 earnings per share for the quarter, topping analysts’ consensus estimates of $ 3.24 by $ 0.03. ConocoPhillips had a return on equity of 24.89% and a net margin of 22.52%. The business had revenue of $ 19.29 billion for the quarter, compared to analyst estimates of $ 18.36 billion. During the same quarter in the previous year, the firm earned $ 0.69 earnings per share. The company revenue was up 82.7% on a year-over-year basis. As a group, equities analysts forecast that ConocoPhillips will post 15 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Tuesday, May 17th were paid a dividend of $ 0.46 per share. The ex-dividend date of this dividend was Monday, May 16th. This represents a $ 1.84 dividend on an annualized basis and a dividend yield of 1.65%. ConocoPhillips’s payout ratio is 18.97%.
ConocoPhillips Company Profile: (Get Rating)
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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