German American Bancorp Inc. Decreases Position in ConocoPhillips $COP

German American Bancorp Inc. trimmed its stake in ConocoPhillips (NYSE:COP - Free Report) by 21.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,899 shares of the energy producer's stock after selling 11,162 shares during the period. German American Bancorp Inc.'s holdings in ConocoPhillips were worth $4,148,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Concurrent Investment Advisors LLC grew its position in ConocoPhillips by 31.2% in the 4th quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer's stock valued at $8,067,000 after acquiring an additional 20,501 shares during the last quarter. D.A. Davidson & CO. lifted its position in shares of ConocoPhillips by 10.5% during the fourth quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer's stock worth $14,572,000 after purchasing an additional 14,833 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of ConocoPhillips by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer's stock worth $11,256,713,000 after purchasing an additional 408,304 shares during the last quarter. Mach 1 Financial Group LLC purchased a new stake in shares of ConocoPhillips during the fourth quarter valued at $1,169,000. Finally, Jennison Associates LLC boosted its stake in shares of ConocoPhillips by 7.6% during the fourth quarter. Jennison Associates LLC now owns 153,240 shares of the energy producer's stock valued at $14,345,000 after purchasing an additional 10,779 shares during the period. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Up 0.7%

ConocoPhillips stock opened at $127.64 on Tuesday. The stock has a 50-day moving average of $114.05 and a two-hundred day moving average of $116.92. The stock has a market cap of $153.34 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 1.40 and a beta of 0.11. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (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 quarter last year, the company posted $1.42 earnings per share. The business's quarterly revenue was up 32.4% on a year-over-year basis. On average, research analysts anticipate that ConocoPhillips will post 10.05 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be paid a $0.84 dividend. The ex-dividend date is Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. ConocoPhillips's dividend payout ratio (DPR) is 44.44%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on COP. Freedom Capital raised shares of ConocoPhillips from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Wall Street Zen upgraded shares of ConocoPhillips from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Raymond James Financial reduced their target price on shares of ConocoPhillips from $145.00 to $142.00 and set an "outperform" rating on the stock in a research report on Monday, June 1st. Weiss Ratings raised shares of ConocoPhillips from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, August 6th. Finally, Capital One Financial lowered their price target on ConocoPhillips from $156.00 to $154.00 and set an "equal weight" rating for the company in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $137.48.

ConocoPhillips Profile

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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