Deutsche Bank AG Buys 370,122 Shares of ConocoPhillips $COP

Deutsche Bank AG lifted its stake in ConocoPhillips (NYSE:COP) by 8.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,607,523 shares of the energy producer’s stock after purchasing an additional 370,122 shares during the quarter. Deutsche Bank AG’s holdings in ConocoPhillips were worth $478,998,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in ConocoPhillips during the 4th quarter valued at $25,000. Strive Asset Management LLC bought a new stake in ConocoPhillips in the third quarter worth $28,000. Frazier Financial Advisors LLC boosted its stake in ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after buying an additional 145 shares during the period. Allied Private Wealth LLC purchased a new position in ConocoPhillips during the second quarter worth $32,000. Finally, BNP Paribas bought a new position in ConocoPhillips during the second quarter valued at $33,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 1.8%

Shares of NYSE:COP opened at $129.82 on Wednesday. The business’s 50 day moving average is $114.31 and its 200 day moving average is $117.12. The stock has a market cap of $155.96 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 1.40 and a beta of 0.11. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business had revenue of $19.52 billion during the quarter, compared to analyst estimates of $18.79 billion. During the same period in the previous year, the company posted $1.42 EPS. ConocoPhillips’s revenue was up 32.4% on a year-over-year basis. Sell-side analysts predict that ConocoPhillips will post 10.05 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. ConocoPhillips’s dividend payout ratio is 44.44%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on COP. Wall Street Zen raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. The Goldman Sachs Group dropped their price target on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Truist Financial upped their price target on shares of ConocoPhillips from $115.00 to $130.00 and gave the company a “hold” rating in a report on Monday, August 10th. Roth Capital raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $124.00 to $130.00 in a research report on Monday, June 22nd. Finally, Jefferies Financial Group increased their price objective on shares of ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $137.48.

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.