Flossbach Von Storch AG Has $11,554,000 Stake in ConocoPhillips (COP)
Flossbach Von Storch AG boosted its stake in shares of ConocoPhillips (NYSE:COP) by 0.6% during the second quarter, Holdings Channel reports. The firm owned 265,000 shares of the company’s stock after buying an additional 1,700 shares during the period. Flossbach Von Storch AG’s holdings in ConocoPhillips were worth $11,554,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of COP. Integrated Investment Consultants LLC boosted its stake in shares of ConocoPhillips by 25.0% in the second quarter. Integrated Investment Consultants LLC now owns 2,543 shares of the company’s stock worth $111,000 after buying an additional 509 shares during the period. Cribstone Capital Management LLC acquired a new stake in shares of ConocoPhillips during the second quarter worth $122,000. AIMZ Investment Advisors LLC acquired a new stake in shares of ConocoPhillips during the first quarter worth $205,000. Cornerstone Advisors Inc. boosted its stake in shares of ConocoPhillips by 2.3% in the second quarter. Cornerstone Advisors Inc. now owns 3,517 shares of the company’s stock worth $153,000 after buying an additional 79 shares during the period. Finally, MCF Advisors LLC boosted its stake in shares of ConocoPhillips by 0.3% in the first quarter. MCF Advisors LLC now owns 3,865 shares of the company’s stock worth $156,000 after buying an additional 12 shares during the period. 63.70% of the stock is owned by hedge funds and other institutional investors.
Shares of ConocoPhillips (NYSE:COP) traded down 0.67% during mid-day trading on Friday, reaching $44.22. 8,281,676 shares of the company’s stock were exchanged. ConocoPhillips has a 1-year low of $31.05 and a 1-year high of $57.24. The stock’s market capitalization is $54.77 billion. The company’s 50 day moving average is $41.78 and its 200 day moving average is $42.72.
ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, July 28th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.61) by $0.18. The company had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.38 billion. ConocoPhillips had a negative return on equity of 9.26% and a negative net margin of 28.40%. The firm’s revenue for the quarter was down 35.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 EPS. Equities research analysts anticipate that ConocoPhillips will post ($2.47) EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, October 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Thursday, October 13th. ConocoPhillips’s dividend payout ratio is presently -17.57%.
A number of equities research analysts have weighed in on COP shares. Jefferies Group restated a “sell” rating on shares of ConocoPhillips in a report on Thursday, June 30th. Credit Suisse Group AG restated a “neutral” rating on shares of ConocoPhillips in a report on Tuesday, September 6th. Vetr upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating and set a $42.73 price objective on the stock in a report on Monday, September 12th. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and set a $51.00 price objective on the stock in a report on Monday, September 12th. Finally, Simmons reiterated a “neutral” rating on shares of ConocoPhillips in a report on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company. ConocoPhillips has a consensus rating of “Hold” and a consensus price target of $49.10.
In related news, Director Arjun N. Murti bought 6,500 shares of the company’s stock in a transaction on Monday, August 1st. The shares were bought at an average price of $39.72 per share, with a total value of $258,180.00. Following the transaction, the director now owns 19,000 shares in the company, valued at $754,680. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Ellen Desanctis bought 5,000 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were bought at an average cost of $40.50 per share, for a total transaction of $202,500.00. Following the transaction, the vice president now owns 22,010 shares in the company, valued at approximately $891,405. The disclosure for this purchase can be found here. Company insiders own 0.07% of the company’s stock.
ConocoPhillips Company Profile
ConocoPhillips (ConocoPhillips) is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG). The Company operates through six operating segments, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International.
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