ConocoPhillips $COP Shares Sold by German American Bancorp Inc.

German American Bancorp Inc. lowered its position in ConocoPhillips (NYSE:COP) by 21.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 39,899 shares of the energy producer’s stock after selling 11,162 shares during the period. German American Bancorp Inc.’s holdings in ConocoPhillips were worth $4,148,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of ConocoPhillips by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer’s stock valued at $11,256,713,000 after acquiring an additional 408,304 shares during the last quarter. Capital International Investors increased its stake in shares of ConocoPhillips by 5.9% in the fourth quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock worth $4,527,230,000 after acquiring an additional 2,714,663 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of ConocoPhillips by 6.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock worth $3,880,151,000 after purchasing an additional 2,350,645 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of ConocoPhillips by 4.5% during the fourth quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer’s stock worth $1,407,770,000 after purchasing an additional 648,432 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in ConocoPhillips by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer’s stock valued at $1,389,862,000 after purchasing an additional 193,401 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.7%

COP opened at $127.64 on Tuesday. The company has a fifty day moving average of $114.05 and a two-hundred day moving average of $116.92. The stock has a market capitalization of $153.34 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 1.40 and a beta of 0.11. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54.

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

ConocoPhillips Dividend Announcement

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

Wall Street Analysts Forecast Growth

COP has been the topic of several recent research reports. Argus upped their price target on shares of ConocoPhillips from $128.00 to $136.00 and gave the company a “buy” rating in a report on Friday, May 15th. Zacks Research lowered ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Truist Financial boosted their price objective on ConocoPhillips from $115.00 to $130.00 and gave the company a “hold” rating in a report on Monday, August 10th. UBS Group upped their target price on ConocoPhillips from $143.00 to $153.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, Wells Fargo & Company raised their target price on ConocoPhillips from $183.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, ConocoPhillips 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.