Deutsche Bank AG Sells 102,069 Shares of ConocoPhillips (NYSE:COP)

Deutsche Bank AG cut its stake in shares of ConocoPhillips (NYSE:COPFree Report) by 3.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,324,695 shares of the energy producer’s stock after selling 102,069 shares during the quarter. Deutsche Bank AG owned approximately 0.28% of ConocoPhillips worth $398,298,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. West Tower Group LLC purchased a new position in shares of ConocoPhillips in the second quarter valued at about $27,000. RVW Wealth LLC bought a new stake in ConocoPhillips during the 3rd quarter valued at approximately $28,000. Fairfield Bush & CO. purchased a new position in ConocoPhillips in the 1st quarter worth approximately $31,000. Halpern Financial Inc. purchased a new position in ConocoPhillips in the 3rd quarter worth approximately $39,000. Finally, Mascoma Wealth Management LLC boosted its stake in ConocoPhillips by 35.9% in the 3rd quarter. Mascoma Wealth Management LLC now owns 333 shares of the energy producer’s stock worth $40,000 after purchasing an additional 88 shares during the period. 80.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Up 0.1 %

Shares of COP opened at $111.25 on Monday. The company’s fifty day simple moving average is $113.10 and its 200-day simple moving average is $116.55. The company has a market cap of $132.10 billion, a P/E ratio of 12.27, a P/E/G ratio of 0.65 and a beta of 1.24. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a twelve month low of $91.53 and a twelve month high of $127.35.

ConocoPhillips (NYSE:COPGet Free Report) last posted its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same period in the prior year, the company posted $2.71 EPS. As a group, analysts expect that ConocoPhillips will post 9.45 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Monday, February 19th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.80%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Thursday, February 15th. ConocoPhillips’s dividend payout ratio is presently 25.61%.

Wall Street Analyst Weigh In

COP has been the topic of several recent analyst reports. UBS Group reduced their price objective on shares of ConocoPhillips from $149.00 to $138.00 and set a “buy” rating on the stock in a research report on Thursday, December 14th. Royal Bank of Canada boosted their price target on shares of ConocoPhillips from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 14th. Raymond James cut their price objective on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Johnson Rice downgraded ConocoPhillips from an “accumulate” rating to a “hold” rating in a research report on Thursday, December 14th. Finally, Scotiabank increased their price target on ConocoPhillips from $115.00 to $120.00 and gave the company a “sector perform” rating in a research note on Friday. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $134.33.

View Our Latest Research Report on COP

About ConocoPhillips

(Free Report)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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