Allianz SE Trims Stock Holdings in ConocoPhillips (NYSE:COP)

Allianz SE lessened its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 87.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,493 shares of the energy producer's stock after selling 63,696 shares during the quarter. Allianz SE's holdings in ConocoPhillips were worth $997,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of ConocoPhillips by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock worth $4,546,706,000 after buying an additional 5,549,078 shares in the last quarter. Elevation Point Wealth Partners LLC boosted its position in ConocoPhillips by 83.0% during the first quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock worth $1,897,000 after acquiring an additional 8,189 shares during the last quarter. Schwartz Investment Counsel Inc. grew its stake in ConocoPhillips by 159.6% in the 1st quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock worth $5,125,000 after acquiring an additional 30,000 shares during the period. ORG Wealth Partners LLC raised its holdings in ConocoPhillips by 853.3% in the 1st quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock valued at $698,000 after acquiring an additional 5,922 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its holdings in ConocoPhillips by 151.1% in the 1st quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock valued at $9,580,000 after acquiring an additional 54,900 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Price Performance

COP stock opened at $92.75 on Monday. The firm has a market cap of $117.25 billion, a P/E ratio of 11.79, a price-to-earnings-growth 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 stock has a 50-day simple moving average of $91.97 and a 200-day simple moving average of $93.99.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The firm had revenue of $16.18 billion during the quarter, compared to analysts' expectations of $15.74 billion. During the same quarter in the prior year, the business earned $2.05 EPS. On average, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is presently 39.64%.

Insider Transactions at ConocoPhillips

In other news, EVP Kirk L. Johnson acquired 5,300 shares of the business's stock in a transaction on Monday, June 16th. The shares were purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the acquisition, the executive vice president directly owned 14,527 shares of the company's stock, valued at $1,369,024.48. This represents a 57.44% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on COP. Citigroup decreased their price objective on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. Morgan Stanley reissued an "overweight" rating and issued a $119.00 price target on shares of ConocoPhillips in a research note on Tuesday, July 15th. UBS Group upped their price objective on shares of ConocoPhillips from $111.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Wells Fargo & Company reissued an "overweight" rating and issued a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Finally, Susquehanna lowered their target price on shares of ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $121.33.

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.

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