German American Bancorp Inc. Raises Stock Holdings in ConocoPhillips (NYSE:COP)

German American Bancorp Inc. boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 7.3% in the third quarter, Holdings Channel.com reports. The fund owned 53,984 shares of the energy producer’s stock after acquiring an additional 3,650 shares during the quarter. German American Bancorp Inc.’s holdings in ConocoPhillips were worth $5,683,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of COP. Vident Advisory LLC grew its stake in ConocoPhillips by 5.4% in the 1st quarter. Vident Advisory LLC now owns 24,998 shares of the energy producer’s stock worth $3,182,000 after acquiring an additional 1,291 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of ConocoPhillips during the 1st quarter worth $46,000. CreativeOne Wealth LLC increased its stake in shares of ConocoPhillips by 32.1% during the first quarter. CreativeOne Wealth LLC now owns 8,856 shares of the energy producer’s stock valued at $1,127,000 after buying an additional 2,150 shares during the period. EP Wealth Advisors LLC increased its stake in shares of ConocoPhillips by 19.1% during the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock valued at $3,640,000 after buying an additional 4,578 shares during the period. Finally, Stonebridge Capital Advisors LLC lifted its stake in ConocoPhillips by 1.2% in the first quarter. Stonebridge Capital Advisors LLC now owns 57,383 shares of the energy producer’s stock worth $7,304,000 after acquiring an additional 693 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $113.43 on Thursday. The stock has a market cap of $130.55 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 0.92 and a beta of 1.21. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The company has a 50 day simple moving average of $108.57 and a two-hundred day simple moving average of $111.48. 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 (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm’s revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.16 earnings per share. As a group, analysts predict that ConocoPhillips will post 7.8 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business 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 $0.78 dividend. The ex-dividend date is Friday, November 8th. 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%. ConocoPhillips’s payout ratio is presently 37.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Truist Financial reduced their price target 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. BMO Capital Markets boosted their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Scotiabank dropped their target price 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. UBS Group cut their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Six research 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $137.63.

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.