Flossbach Von Storch SE Makes New Investment in ConocoPhillips $COP

Flossbach Von Storch SE bought a new position in shares of ConocoPhillips (NYSE:COP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 23,640 shares of the energy producer’s stock, valued at approximately $2,458,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC grew its holdings in ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 145 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in ConocoPhillips in the 4th quarter valued at $25,000. Ballast Advisors LLC acquired a new stake in shares of ConocoPhillips in the first quarter valued at about $36,000. Evergreen Advisors LLC acquired a new stake in ConocoPhillips in the first quarter valued at approximately $36,000. Finally, Allied Private Wealth LLC acquired a new stake in ConocoPhillips during the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $130.72 on Thursday. The stock’s fifty day simple moving average is $114.53 and its 200 day simple moving average is $117.32. The stock has a market capitalization of $157.04 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 1.43 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 posted its quarterly earnings data 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 return on equity of 14.72% and a net margin of 14.22%.The firm had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. During the same quarter in the previous year, the company earned $1.42 EPS. The business’s revenue for the quarter was up 32.4% compared to the same quarter last year. As a group, sell-side analysts forecast that ConocoPhillips will post 10.05 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be given a dividend of $0.84 per share. 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 payout ratio is presently 44.44%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on COP. Capital One Financial dropped their price objective on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a report on Monday, May 18th. Roth Capital raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and raised their target price for the stock from $124.00 to $130.00 in a report on Monday, June 22nd. Raymond James Financial reduced their price target on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a report on Monday, June 1st. Weiss Ratings upgraded ConocoPhillips from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Finally, Mizuho decreased their target price on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.21.

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.