Flossbach Von Storch AG Sells 20,729 Shares of ConocoPhillips (NYSE:COP)

Flossbach Von Storch AG reduced its position in ConocoPhillips (NYSE:COP) by 8.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 232,042 shares of the energy producer’s stock after selling 20,729 shares during the period. Flossbach Von Storch AG’s holdings in ConocoPhillips were worth $26,933,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Moneta Group Investment Advisors LLC raised its position in ConocoPhillips by 98,832.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock valued at $1,012,956,000 after buying an additional 8,575,696 shares during the last quarter. Morgan Stanley raised its position in ConocoPhillips by 26.6% in the 4th quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock valued at $1,964,432,000 after buying an additional 3,497,750 shares during the last quarter. Alphinity Investment Management Pty Ltd purchased a new stake in ConocoPhillips in the 3rd quarter valued at $310,102,000. Cowa LLC raised its position in ConocoPhillips by 6,475.2% in the 1st quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock valued at $2,383,000 after buying an additional 2,339,100 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in ConocoPhillips in the 4th quarter valued at $186,330,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Price Performance

Shares of COP traded down $1.22 during trading hours on Wednesday, reaching $128.31. 3,869,708 shares of the company’s stock traded hands, compared to its average volume of 5,478,735. The stock has a market cap of $150.94 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 2.83 and a beta of 1.24. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm’s 50 day simple moving average is $119.92 and its 200-day simple moving average is $117.01. ConocoPhillips has a 12 month low of $95.70 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The firm had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter last year, the company posted $2.71 EPS. Equities analysts expect that ConocoPhillips will post 9.21 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were given a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a yield of 2.43%. ConocoPhillips’s payout ratio is presently 25.61%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their target price on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Mizuho reaffirmed a “neutral” rating and set a $139.00 target price (up from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Piper Sandler decreased their target price on ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. UBS Group raised their target price on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, Truist Financial decreased their target price on ConocoPhillips from $173.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.59.

Insider Buying and Selling

In related news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The disclosure for this sale can be found here. Insiders sold 700,775 shares of company stock worth $87,615,169 in the last quarter. 0.34% of the stock is owned by insiders.

ConocoPhillips Profile

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.