Commerzbank Aktiengesellschaft FI Has $3 Million Stock Position in ConocoPhillips (NYSE:COP)

Commerzbank Aktiengesellschaft FI raised its stake in ConocoPhillips (NYSE:COP) by 311.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 28,473 shares of the energy producer’s stock after buying an additional 21,552 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in ConocoPhillips were worth $2,998,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Valued Wealth Advisors LLC raised its position in ConocoPhillips by 45.8% in the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after purchasing an additional 82 shares during the last quarter. Astoria Portfolio Advisors LLC. lifted its stake in shares of ConocoPhillips by 4.0% during the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after acquiring an additional 85 shares during the period. Manchester Capital Management LLC boosted its holdings in ConocoPhillips by 22.1% in the first quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock valued at $60,000 after acquiring an additional 86 shares during the last quarter. Mayfair Advisory Group LLC increased its position in ConocoPhillips by 3.5% in the first quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock worth $334,000 after purchasing an additional 90 shares during the period. Finally, Vicus Capital raised its holdings in ConocoPhillips by 3.7% during the 2nd quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock worth $302,000 after purchasing an additional 94 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Performance

COP opened at $104.31 on Wednesday. The company has a market capitalization of $121.13 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 0.85 and a beta of 1.21. The business’s 50-day moving average price is $108.84 and its two-hundred day moving average price is $114.28. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. ConocoPhillips’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.84 EPS. Equities analysts expect that ConocoPhillips will post 7.95 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 25.86%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Susquehanna lowered their price target on shares of ConocoPhillips from $147.00 to $144.00 and set a “positive” rating for the company in a research report on Friday, October 18th. UBS Group lowered their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. BMO Capital Markets boosted their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a report on Friday. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $136.94.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the transaction, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is currently owned by insiders.

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.