ConocoPhillips $COP Stock Position Lessened by Commerzbank Aktiengesellschaft FI

Key Points

• Commerzbank Aktiengesellschaft FI reduced its ConocoPhillips stake by 12.0% in the first quarter, selling 9,586 shares and leaving it with 70,196 shares valued at about $9.27 million.
• ConocoPhillips reported stronger-than-expected quarterly results, posting EPS of $1.89 versus estimates of $1.72 and revenue of $15.76 billion, though revenue still declined 6.1% year over year.
• The company recently paid a quarterly dividend of $0.84 per share, equal to an annualized yield of about 2.9%, while analysts currently rate the stock Moderate Buy with an average target price of $134.04.

Commerzbank Aktiengesellschaft FI trimmed its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 12.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 70,196 shares of the energy producer's stock after selling 9,586 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in ConocoPhillips were worth $9,266,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Concurrent Investment Advisors LLC lifted its holdings in ConocoPhillips by 31.2% in the 4th quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer's stock worth $8,067,000 after purchasing an additional 20,501 shares during the last quarter. D.A. Davidson & CO. grew its holdings in ConocoPhillips by 10.5% during the fourth quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer's stock valued at $14,572,000 after purchasing an additional 14,833 shares during the last quarter. Czech National Bank grew its holdings in ConocoPhillips by 2.7% during the fourth quarter. Czech National Bank now owns 325,841 shares of the energy producer's stock valued at $30,502,000 after purchasing an additional 8,635 shares during the last quarter. BXM Wealth LLC raised its position in shares of ConocoPhillips by 691.6% in the fourth quarter. BXM Wealth LLC now owns 40,016 shares of the energy producer's stock valued at $3,746,000 after purchasing an additional 34,961 shares during the period. Finally, Assetmark Inc. raised its position in shares of ConocoPhillips by 17.6% in the fourth quarter. Assetmark Inc. now owns 410,229 shares of the energy producer's stock valued at $38,402,000 after purchasing an additional 61,361 shares during the period. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Up 0.8%

Shares of COP stock opened at $115.67 on Tuesday. The firm has a market capitalization of $140.92 billion, a P/E ratio of 19.64, a price-to-earnings-growth ratio of 1.39 and a beta of 0.12. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The firm's fifty day simple moving average is $113.48 and its 200 day simple moving average is $113.67. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business's revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.09 EPS. As a group, sell-side analysts predict that ConocoPhillips will post 9.2 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, May 11th. ConocoPhillips's dividend payout ratio (DPR) is presently 57.05%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on COP. Weiss Ratings reaffirmed a "hold (c)" rating on shares of ConocoPhillips in a report on Wednesday, June 3rd. Royal Bank Of Canada set a $130.00 target price on shares of ConocoPhillips in a report on Monday, June 22nd. The Goldman Sachs Group cut their target price on shares of ConocoPhillips from $144.00 to $138.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Susquehanna upped their price target on shares of ConocoPhillips from $149.00 to $152.00 in a report on Friday, May 1st. Finally, Jefferies Financial Group raised their price target on ConocoPhillips from $160.00 to $161.00 and gave the company a "buy" rating in a research report on Monday, May 18th. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $134.04.

About ConocoPhillips

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.

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