Deutsche Bank AG Buys 370,122 Shares of ConocoPhillips $COP

Key Points

• Deutsche Bank increased its ConocoPhillips stake by 8.7% in the second quarter, acquiring 370,122 shares and bringing its holdings to 4.61 million shares valued at approximately $479 million. Institutional investors collectively own 82.36% of the company.
• Analysts maintain a generally positive view of ConocoPhillips, with a “Moderate Buy” consensus rating and an average price target of $137.48. Recent targets range from $125 to $147.
• ConocoPhillips beat quarterly expectations, reporting $3.24 in EPS and $19.52 billion in revenue, while revenue rose 32.4% year over year. The company also announced a quarterly dividend of $0.84 per share, representing a 2.6% yield.

Deutsche Bank AG boosted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 8.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,607,523 shares of the energy producer's stock after acquiring an additional 370,122 shares during the period. Deutsche Bank AG owned 0.38% of ConocoPhillips worth $478,998,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Perigon Wealth Management LLC lifted its stake in shares of ConocoPhillips by 20.8% during the 2nd quarter. Perigon Wealth Management LLC now owns 9,805 shares of the energy producer's stock valued at $1,019,000 after buying an additional 1,689 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in ConocoPhillips by 7.9% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 75,707 shares of the energy producer's stock worth $7,870,000 after buying an additional 5,511 shares during the period. Covestor Ltd increased its stake in ConocoPhillips by 25.2% in the 2nd quarter. Covestor Ltd now owns 612 shares of the energy producer's stock worth $64,000 after buying an additional 123 shares in the last quarter. Trust Co. of Vermont purchased a new stake in ConocoPhillips in the 2nd quarter worth $1,494,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in ConocoPhillips by 6.6% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,967,794 shares of the energy producer's stock valued at $308,532,000 after acquiring an additional 184,630 shares during the period. Hedge funds and other institutional investors own 82.36% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on COP. Argus boosted their price objective on ConocoPhillips from $128.00 to $136.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Morgan Stanley reiterated an "overweight" rating and set a $147.00 target price on shares of ConocoPhillips in a research report on Friday, August 7th. Raymond James Financial decreased their target price on ConocoPhillips from $145.00 to $142.00 and set an "outperform" rating on the stock in a research note on Monday, June 1st. Royal Bank Of Canada set a $130.00 price target on ConocoPhillips in a report on Monday, June 22nd. Finally, Scotiabank upped their price target on ConocoPhillips from $100.00 to $125.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $137.48.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $129.82 on Wednesday. The company has a market cap of $155.96 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.40 and a beta of 0.11. The firm's fifty day moving average is $114.31 and its 200 day moving average is $117.12. 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 has a 52-week low of $85.57 and a 52-week high of $135.87.

ConocoPhillips (NYSE:COP - Get Free Report) last issued 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. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The business had revenue of $19.52 billion during the quarter, compared to analysts' expectations of $18.79 billion. During the same period last year, the company posted $1.42 EPS. The business's revenue was up 32.4% on a year-over-year basis. Sell-side analysts forecast that ConocoPhillips will post 10.05 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be given 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 is currently 44.44%.

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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