Deutsche Bank AG Buys 1,834,118 Shares of ConocoPhillips (NYSE:COP)

Key Points

• Deutsche Bank AG increased its holdings in ConocoPhillips by 53.8%, owning 5,240,275 shares valued at approximately $550.33 million as of the latest quarter.
• ConocoPhillips recently reported earnings of $2.09 per share, surpassing estimates, with revenues of $16.18 billion for the quarter.
• The company announced a quarterly dividend of $0.78 per share, resulting in an annualized dividend of $3.12 which gives a yield of 3.3%.

Deutsche Bank AG lifted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 53.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,240,275 shares of the energy producer's stock after acquiring an additional 1,834,118 shares during the period. Deutsche Bank AG owned about 0.41% of ConocoPhillips worth $550,334,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Second Line Capital LLC increased its position in shares of ConocoPhillips by 2.2% during the fourth quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer's stock valued at $495,000 after purchasing an additional 108 shares during the period. Meiji Yasuda Life Insurance Co increased its position in shares of ConocoPhillips by 1.6% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 7,091 shares of the energy producer's stock valued at $703,000 after purchasing an additional 110 shares during the period. LRI Investments LLC increased its position in shares of ConocoPhillips by 3.6% during the fourth quarter. LRI Investments LLC now owns 3,184 shares of the energy producer's stock valued at $316,000 after purchasing an additional 110 shares during the period. Deseret Mutual Benefit Administrators increased its position in shares of ConocoPhillips by 3.9% during the first quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer's stock valued at $334,000 after purchasing an additional 118 shares during the period. Finally, Northeast Financial Consultants Inc increased its position in shares of ConocoPhillips by 2.9% during the fourth quarter. Northeast Financial Consultants Inc now owns 4,361 shares of the energy producer's stock valued at $432,000 after purchasing an additional 122 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Up 1.4%

Shares of COP traded up $1.31 during trading hours on Friday, hitting $93.91. 8,764,610 shares of the stock traded hands, compared to its average volume of 6,026,880. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08. The firm has a market capitalization of $118.72 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 2.41 and a beta of 0.67. The business has a fifty day moving average of $92.77 and a 200-day moving average of $93.73.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.06. The business had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%. The firm's revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.98 earnings per share. Analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, August 18th. ConocoPhillips's dividend payout ratio is 39.64%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on COP. Susquehanna lowered their price objective on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Piper Sandler reaffirmed an "overweight" rating and issued a $123.00 price target (up previously from $113.00) on shares of ConocoPhillips in a research note on Tuesday, July 15th. Citigroup decreased their price target on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Finally, Roth Capital reaffirmed a "buy" rating and issued a $108.00 price target on shares of ConocoPhillips in a research note on Thursday. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, ConocoPhillips has an average rating of "Moderate Buy" and an average price target of $120.63.

Insider Activity

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the stock in a transaction on Monday, June 16th. The stock was bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the acquisition, the executive vice president directly owned 14,527 shares of the company's stock, valued at $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is owned by company insiders.

ConocoPhillips Profile

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.