Flossbach Von Storch AG Cuts Position in ConocoPhillips (NYSE:COP)

Flossbach Von Storch AG reduced its position in shares of ConocoPhillips (NYSE:COP) by 8.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 232,042 shares of the energy producer’s stock after selling 20,729 shares during the period. Flossbach Von Storch AG’s holdings in ConocoPhillips were worth $26,933,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Morgan Stanley increased its stake in ConocoPhillips by 26.6% during the 4th quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock worth $1,964,432,000 after buying an additional 3,497,750 shares in the last quarter. Northern Trust Corp increased its stake in ConocoPhillips by 3.2% during the 3rd quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock worth $1,495,927,000 after buying an additional 386,276 shares in the last quarter. Bank of New York Mellon Corp increased its stake in ConocoPhillips by 10.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock worth $1,440,962,000 after buying an additional 1,152,907 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in ConocoPhillips by 98,832.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock worth $1,012,956,000 after buying an additional 8,575,696 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in ConocoPhillips by 8.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock worth $968,410,000 after buying an additional 659,632 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Heather G. Hrap sold 4,548 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value of $502,781.40. Following the sale, the senior vice president now directly owns 2,654 shares in the company, valued at $293,399.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Heather G. Hrap sold 4,548 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the sale, the senior vice president now owns 2,654 shares in the company, valued at $293,399.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 700,775 shares of company stock worth $87,615,169. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Trading Down 0.9 %

NYSE:COP traded down $1.22 during trading hours on Wednesday, reaching $128.31. 3,869,708 shares of the stock were exchanged, compared to its average volume of 5,478,735. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average of $119.92 and a two-hundred day moving average of $117.01. ConocoPhillips has a twelve month low of $95.70 and a twelve month high of $135.18. The company has a market capitalization of $150.94 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 2.83 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The company had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same period in the prior year, the firm earned $2.71 earnings per share. On average, equities analysts predict that ConocoPhillips will post 9.21 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were paid a $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.43%. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.61%.

Analyst Ratings Changes

COP has been the subject of several research reports. UBS Group boosted their price objective on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Morgan Stanley upped their price target on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Truist Financial dropped their price target on ConocoPhillips from $173.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Piper Sandler dropped their price target on ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. Finally, Susquehanna dropped their price target on ConocoPhillips from $152.00 to $133.00 and set a “positive” rating for the company in a research report on Friday, January 26th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.59.

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.