Generali Investments CEE investicni spolecnost a.s. Reduces Stake in ConocoPhillips $COP

Generali Investments CEE investicni spolecnost a.s. lowered its position in ConocoPhillips (NYSE:COP) by 2.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 24,652 shares of the energy producer’s stock after selling 600 shares during the period. Generali Investments CEE investicni spolecnost a.s.’s holdings in ConocoPhillips were worth $2,212,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of COP. Charles Schwab Investment Management Inc. boosted its position in ConocoPhillips by 379.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after purchasing an additional 31,736,423 shares in the last quarter. Nuveen LLC purchased a new stake in ConocoPhillips in the 1st quarter worth approximately $658,981,000. AQR Capital Management LLC boosted its position in ConocoPhillips by 190.5% in the 1st quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock worth $484,539,000 after purchasing an additional 3,058,505 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in ConocoPhillips by 30.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after purchasing an additional 2,080,625 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in ConocoPhillips by 53.8% in the 1st quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer’s stock worth $550,334,000 after purchasing an additional 1,834,118 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 1.3%

NYSE COP opened at $94.63 on Wednesday. The business has a fifty day moving average price of $94.98 and a 200 day moving average price of $92.98. ConocoPhillips has a one year low of $79.88 and a one year high of $116.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The company has a market cap of $118.19 billion, a P/E ratio of 12.70, a P/E/G ratio of 2.52 and a beta of 0.69.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. During the same period in the prior year, the company earned $1.98 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. Research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio is currently 41.88%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Susquehanna lowered their price objective on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research report on Wednesday, July 23rd. Piper Sandler upped their price objective on ConocoPhillips from $123.00 to $124.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Roth Capital restated a “buy” rating on shares of ConocoPhillips in a research report on Wednesday, September 3rd. Raymond James Financial reduced their target price on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. Finally, Citigroup reduced their target price on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, June 11th. Sixteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.14.

ConocoPhillips Company 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.