ConocoPhillips $COP Shares Purchased by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI increased its stake in shares of ConocoPhillips (NYSE:COP) by 7.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 75,707 shares of the energy producer’s stock after purchasing an additional 5,511 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in ConocoPhillips were worth $7,870,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Frazier Financial Advisors LLC grew its position in shares of ConocoPhillips by 151.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after buying an additional 145 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in ConocoPhillips during the fourth quarter worth $25,000. Ballast Advisors LLC acquired a new position in ConocoPhillips during the first quarter worth about $36,000. Evergreen Advisors LLC acquired a new stake in ConocoPhillips in the first quarter valued at $36,000. Finally, Allied Private Wealth LLC acquired a new stake in shares of ConocoPhillips in the second quarter valued at approximately $32,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $129.82 on Wednesday. The company has a market cap of $155.96 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 1.40 and a beta of 0.11. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The company’s fifty day moving average is $114.31 and its two-hundred day moving average is $117.12.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. The firm had revenue of $19.52 billion during the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same period last year, the company posted $1.42 EPS. Equities analysts expect that ConocoPhillips will post 10.05 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, August 17th. ConocoPhillips’s dividend payout ratio (DPR) is currently 44.44%.

Analyst Ratings Changes

Several analysts have commented on COP shares. UBS Group lifted their target price on shares of ConocoPhillips from $143.00 to $153.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Morgan Stanley reaffirmed an “overweight” rating and issued a $147.00 target price on shares of ConocoPhillips in a research report on Friday, August 7th. The Goldman Sachs Group reduced their price objective on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Wells Fargo & Company increased their price objective on shares of ConocoPhillips from $183.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Jefferies Financial Group increased their price objective on shares of ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $137.48.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.