B. Metzler seel. Sohn & Co. AG Has $6.48 Million Stake in ConocoPhillips (NYSE:COP)

B. Metzler seel. Sohn & Co. AG cut its stake in ConocoPhillips (NYSE:COP) by 33.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,323 shares of the energy producer’s stock after selling 32,413 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in ConocoPhillips were worth $6,478,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of COP. Bridgewater Associates LP boosted its holdings in ConocoPhillips by 58.9% during the third quarter. Bridgewater Associates LP now owns 3,079 shares of the energy producer’s stock worth $324,000 after purchasing an additional 1,141 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of ConocoPhillips during the 3rd quarter worth about $7,017,000. Kestra Investment Management LLC bought a new stake in ConocoPhillips during the third quarter worth about $403,000. Paloma Partners Management Co boosted its position in ConocoPhillips by 202.5% during the third quarter. Paloma Partners Management Co now owns 321,944 shares of the energy producer’s stock valued at $33,894,000 after purchasing an additional 215,532 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its stake in ConocoPhillips by 489.8% in the third quarter. Benjamin Edwards Inc. now owns 26,711 shares of the energy producer’s stock valued at $2,814,000 after purchasing an additional 22,182 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on COP. Evercore ISI restated an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Morgan Stanley dropped their target price on shares of ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Piper Sandler reduced their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Truist Financial upped their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $132.95.

ConocoPhillips Stock Performance

NYSE COP opened at $105.04 on Tuesday. The company has a market capitalization of $133.65 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 52-week low of $86.81 and a 52-week high of $135.18. The company has a 50-day simple moving average of $98.94 and a 200 day simple moving average of $103.29.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.97%. ConocoPhillips’s dividend payout ratio is presently 40.05%.

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.