Flossbach Von Storch SE Acquires New Position in ConocoPhillips $COP

Flossbach Von Storch SE acquired a new stake in ConocoPhillips (NYSE:COP) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 23,640 shares of the energy producer’s stock, valued at approximately $2,458,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC grew its holdings in ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after acquiring an additional 145 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in ConocoPhillips in the fourth quarter valued at $25,000. Ballast Advisors LLC acquired a new stake in ConocoPhillips in the first quarter valued at $36,000. Evergreen Advisors LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter worth $36,000. Finally, Allied Private Wealth LLC purchased a new stake in shares of ConocoPhillips during the 2nd quarter worth $32,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $130.72 on Thursday. The firm has a market capitalization of $157.04 billion, a PE ratio of 17.29, a P/E/G ratio of 1.43 and a beta of 0.11. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87. The firm’s 50-day simple moving average is $114.53 and its 200 day simple moving average is $117.32. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.34. The firm had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm’s revenue for the quarter was up 32.4% on a year-over-year basis. During the same period last year, the firm posted $1.42 EPS. On average, equities research analysts predict that ConocoPhillips will post 10.05 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

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

Wall Street Analyst Weigh In

COP has been the subject of a number of research analyst reports. Zacks Research downgraded shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Raymond James Financial lowered their target price on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research report on Monday, June 1st. Wells Fargo & Company increased their target price on shares of ConocoPhillips from $183.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Weiss Ratings upgraded shares of ConocoPhillips from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen raised ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $139.21.

ConocoPhillips 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.