Commerzbank Aktiengesellschaft FI Has $9.27 Million Stake in ConocoPhillips $COP

Commerzbank Aktiengesellschaft FI reduced its position in ConocoPhillips (NYSE:COP) by 12.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,196 shares of the energy producer’s stock after selling 9,586 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in ConocoPhillips were worth $9,266,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Frazier Financial Advisors LLC increased its holdings in ConocoPhillips by 151.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after buying an additional 145 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of ConocoPhillips during the 4th quarter worth about $25,000. Evergreen Advisors LLC bought a new position in shares of ConocoPhillips during the 1st quarter worth about $36,000. Strive Asset Management LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter valued at about $28,000. Finally, Avalon Trust Co acquired a new stake in shares of ConocoPhillips during the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of ConocoPhillips from $136.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Roth Capital raised ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $124.00 to $130.00 in a report on Monday, June 22nd. Mizuho lowered their price objective on ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 7th. UBS Group dropped their target price on ConocoPhillips from $155.00 to $143.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. Finally, Truist Financial cut their target price on ConocoPhillips from $128.00 to $115.00 and set a “hold” rating for the company in a research report on Wednesday, July 8th. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $134.04.

ConocoPhillips Trading Up 0.8%

Shares of COP stock opened at $115.67 on Tuesday. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87. The company has a market capitalization of $140.92 billion, a P/E ratio of 19.64, a P/E/G ratio of 1.39 and a beta of 0.12. The firm has a 50-day moving average price of $113.48 and a 200 day moving average price of $113.67. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. The firm had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.09 earnings per share. Research analysts forecast that ConocoPhillips will post 9.2 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 1st. Stockholders of record on Monday, May 11th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s payout ratio is presently 57.05%.

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.