German American Bancorp Inc. Increases Stock Position in ConocoPhillips (NYSE:COP)

German American Bancorp Inc. increased its stake in shares of ConocoPhillips (NYSE:COP) by 7.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,984 shares of the energy producer’s stock after purchasing an additional 3,650 shares during the period. German American Bancorp Inc.’s holdings in ConocoPhillips were worth $5,683,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Values First Advisors Inc. purchased a new stake in shares of ConocoPhillips during the 3rd quarter valued at about $26,000. Stephens Consulting LLC boosted its stake in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares during the last quarter. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter valued at $31,000. Y.D. More Investments Ltd purchased a new stake in shares of ConocoPhillips in the 2nd quarter worth $35,000. Finally, Fairway Wealth LLC lifted its position in ConocoPhillips by 95.6% during the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after purchasing an additional 153 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on COP shares. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. Scotiabank dropped their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Barclays raised their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Truist Financial dropped their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.63.

ConocoPhillips Stock Up 0.3 %

Shares of NYSE COP opened at $113.43 on Thursday. 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 12-month low of $101.29 and a 12-month high of $135.18. The firm’s 50-day moving average price is $108.57 and its 200-day moving average price is $111.48. The stock has a market capitalization of $130.55 billion, a price-to-earnings ratio of 13.49, a P/E/G ratio of 0.92 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.16 earnings per share. On average, equities research analysts anticipate that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be given a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 2.75%. ConocoPhillips’s payout ratio is 37.10%.

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.