Commerzbank Aktiengesellschaft FI Trims Stock Holdings in ConocoPhillips (NYSE:COP)

Commerzbank Aktiengesellschaft FI lowered its stake in ConocoPhillips (NYSE:COP - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,248 shares of the energy producer's stock after selling 2,808 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in ConocoPhillips were worth $4,017,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COP. Murphy & Mullick Capital Management Corp purchased a new position in ConocoPhillips in the fourth quarter worth about $26,000. 10Elms LLP bought a new stake in ConocoPhillips in the fourth quarter worth about $28,000. Crowley Wealth Management Inc. bought a new stake in ConocoPhillips in the fourth quarter worth about $32,000. Garde Capital Inc. bought a new stake in ConocoPhillips in the first quarter worth about $35,000. Finally, Fourth Dimension Wealth LLC bought a new stake in ConocoPhillips in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Morgan Stanley reissued an "overweight" rating and issued a $119.00 price objective on shares of ConocoPhillips in a research note on Tuesday. Scotiabank set a $100.00 price target on ConocoPhillips and gave the company a "sector perform" rating in a report on Friday, July 11th. Bank of America lowered their price target on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Susquehanna lowered their price target on ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a report on Monday, May 12th. Finally, Mizuho lowered their price target on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, ConocoPhillips has a consensus rating of "Moderate Buy" and a consensus target price of $122.21.

ConocoPhillips Stock Down 1.1%

Shares of COP stock traded down $1.06 during trading hours on Friday, reaching $91.75. 7,967,743 shares of the company's stock were exchanged, compared to its average volume of 7,640,115. The stock's 50 day moving average is $90.97 and its 200-day moving average is $94.66. The company has a market cap of $115.99 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 2.45 and a beta of 0.61. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $118.40.

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

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's payout ratio is presently 39.64%.

Insider Activity

In other news, EVP Kirk L. Johnson bought 5,300 shares of ConocoPhillips stock in a transaction that occurred on Monday, June 16th. The stock was bought at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the purchase, the executive vice president directly owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.24% of the company's stock.

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.