DekaBank Deutsche Girozentrale Grows Stock Holdings in ConocoPhillips $COP

DekaBank Deutsche Girozentrale lifted its position in shares of ConocoPhillips (NYSE:COP) by 10.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,028,920 shares of the energy producer’s stock after purchasing an additional 188,885 shares during the period. DekaBank Deutsche Girozentrale’s holdings in ConocoPhillips were worth $183,466,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Tritonpoint Wealth LLC lifted its position in ConocoPhillips by 1.3% in the second quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock valued at $747,000 after acquiring an additional 110 shares during the last quarter. Iowa State Bank lifted its position in ConocoPhillips by 0.5% in the second quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock valued at $1,992,000 after acquiring an additional 110 shares during the last quarter. First National Bank Sioux Falls lifted its position in ConocoPhillips by 4.6% in the second quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock valued at $231,000 after acquiring an additional 113 shares during the last quarter. KLCM Advisors Inc. lifted its position in ConocoPhillips by 2.6% in the first quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock valued at $473,000 after acquiring an additional 115 shares during the last quarter. Finally, Fairvoy Private Wealth LLC lifted its position in ConocoPhillips by 3.5% in the second quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock valued at $314,000 after acquiring an additional 117 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Up 0.6%

NYSE COP opened at $87.01 on Tuesday. ConocoPhillips has a one year low of $79.88 and a one year high of $115.38. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The firm’s fifty day moving average is $93.91 and its two-hundred day moving average is $91.92. The firm has a market cap of $108.67 billion, a PE ratio of 11.68, a P/E/G ratio of 2.29 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same period in the previous year, the business posted $1.98 earnings per share. The business’s revenue was up 4.3% compared to the same quarter last year. Analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s payout ratio is 41.88%.

Analysts Set New Price Targets

COP has been the subject of a number of research reports. BMO Capital Markets boosted their price target on shares of ConocoPhillips from $115.00 to $117.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Jefferies Financial Group reduced their price target on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Morgan Stanley reduced their price target on shares of ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. Melius Research initiated coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective on the stock. Finally, Mizuho dropped their price objective on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Eighteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $115.63.

About ConocoPhillips

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.