Flossbach Von Storch SE Lowers Position in ConocoPhillips (NYSE:COP)

Flossbach Von Storch SE reduced its position in ConocoPhillips (NYSE:COP - Free Report) by 36.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 142,811 shares of the energy producer's stock after selling 80,317 shares during the period. Flossbach Von Storch SE's holdings in ConocoPhillips were worth $14,998,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of ConocoPhillips by 11.7% during the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock valued at $12,081,491,000 after purchasing an additional 12,751,120 shares during the last quarter. Price T Rowe Associates Inc. MD raised 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 valued at $4,546,706,000 after purchasing an additional 5,549,078 shares during the last quarter. Capital International Investors raised its holdings in shares of ConocoPhillips by 4.9% during the fourth quarter. Capital International Investors now owns 31,287,113 shares of the energy producer's stock valued at $3,101,989,000 after purchasing an additional 1,473,027 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of ConocoPhillips by 13.7% in the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock worth $2,792,521,000 after buying an additional 3,397,360 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of ConocoPhillips by 37.1% in the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock worth $1,544,101,000 after buying an additional 4,211,939 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Piper Sandler lifted their price target on shares of ConocoPhillips from $107.00 to $113.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada dropped their price target on shares of ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. Scotiabank reduced their price target on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a research report on Friday, April 11th. Susquehanna reduced their price target on ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a research report on Monday, May 12th. Finally, Citigroup reduced their price target on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $121.80.

ConocoPhillips Trading Up 0.5%

Shares of ConocoPhillips stock traded up $0.44 on Thursday, reaching $94.97. The company had a trading volume of 1,531,010 shares, compared to its average volume of 8,499,175. The firm has a market cap of $120.05 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 2.58 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. The firm's 50-day moving average price is $90.41 and its two-hundred day moving average price is $94.79. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $118.40.

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

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a dividend of $0.78 per share. The ex-dividend date was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.29%. ConocoPhillips's dividend payout ratio (DPR) is presently 39.64%.

Insider Activity

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

ConocoPhillips Company 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.