B. Metzler seel. Sohn & Co. Holding AG Purchases New Position in ConocoPhillips (NYSE:COP)

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of ConocoPhillips (NYSE:COP - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 97,736 shares of the energy producer's stock, valued at approximately $10,289,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COP. Price T Rowe Associates Inc. MD increased its holdings in shares of ConocoPhillips by 35.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer's stock valued at $4,097,473,000 after acquiring an additional 8,479,963 shares during the last quarter. Capital International Investors lifted its position in shares of ConocoPhillips by 9.6% during the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer's stock worth $2,705,059,000 after buying an additional 1,856,085 shares during the period. Legal & General Group Plc lifted its position in shares of ConocoPhillips by 4.6% during the 2nd quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer's stock worth $1,132,430,000 after buying an additional 438,241 shares during the period. Diamond Hill Capital Management Inc. raised its position in ConocoPhillips by 19.3% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,811,289 shares of the energy producer's stock valued at $717,093,000 after purchasing an additional 1,101,685 shares during the last quarter. Finally, Boston Partners raised its position in ConocoPhillips by 10.3% in the 1st quarter. Boston Partners now owns 4,451,796 shares of the energy producer's stock valued at $567,111,000 after purchasing an additional 415,878 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Up 0.3 %

NYSE:COP traded up $0.34 during trading hours on Wednesday, hitting $113.43. 4,035,211 shares of the company were exchanged, compared to its average volume of 5,867,627. The stock has a market capitalization of $130.55 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 0.92 and a beta of 1.21. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The company has a fifty day simple moving average of $108.57 and a 200 day simple moving average of $111.48.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips's revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period last year, the company earned $2.16 EPS. Sell-side analysts expect that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. This is an increase from ConocoPhillips's previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips's dividend payout ratio (DPR) is presently 37.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on COP shares. UBS Group decreased their price objective on ConocoPhillips from $153.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, September 18th. Truist Financial decreased their target price on ConocoPhillips from $145.00 to $138.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. Barclays upped their target price on ConocoPhillips from $135.00 to $137.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Susquehanna upped their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a "positive" rating in a research report on Friday, November 1st. Finally, Scotiabank reduced their price target on ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating on the stock in a research report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.63.

About ConocoPhillips

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.