Private Asset Management Inc. Decreases Holdings in ConocoPhillips (COP)

Private Asset Management Inc. lessened its stake in shares of ConocoPhillips (NYSE:COP) by 1.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,266 shares of the energy producer’s stock after selling 180 shares during the quarter. Private Asset Management Inc.’s holdings in ConocoPhillips were worth $407,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Moloney Securities Asset Management LLC grew its stake in shares of ConocoPhillips by 0.7% during the first quarter. Moloney Securities Asset Management LLC now owns 9,401 shares of the energy producer’s stock worth $469,000 after buying an additional 69 shares during the last quarter. Barber Financial Group Inc. lifted its holdings in shares of ConocoPhillips by 1.0% during the first quarter. Barber Financial Group Inc. now owns 7,213 shares of the energy producer’s stock worth $360,000 after purchasing an additional 74 shares during the period. AT Bancorp lifted its holdings in shares of ConocoPhillips by 0.7% during the first quarter. AT Bancorp now owns 11,091 shares of the energy producer’s stock worth $553,000 after purchasing an additional 80 shares during the period. Kovitz Investment Group Partners LLC lifted its holdings in shares of ConocoPhillips by 0.8% during the first quarter. Kovitz Investment Group Partners LLC now owns 9,839 shares of the energy producer’s stock worth $491,000 after purchasing an additional 80 shares during the period. Finally, Advisor Partners LLC lifted its holdings in shares of ConocoPhillips by 0.5% during the first quarter. Advisor Partners LLC now owns 16,867 shares of the energy producer’s stock worth $841,000 after purchasing an additional 82 shares during the period. 68.99% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ConocoPhillips (NYSE COP) traded up 0.92% during trading on Friday, hitting $46.25. 3,422,520 shares of the stock traded hands. The company has a 50 day moving average price of $44.43 and a 200 day moving average price of $45.67. ConocoPhillips has a 12 month low of $39.00 and a 12 month high of $53.17. The firm’s market cap is $56.28 billion.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.16. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. The firm had revenue of $8.88 billion during the quarter, compared to analysts’ expectations of $6.74 billion. During the same period last year, the company posted ($0.79) EPS. Analysts anticipate that ConocoPhillips will post $0.26 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, July 24th were given a $0.265 dividend. The ex-dividend date was Thursday, July 20th. This represents a $1.06 annualized dividend and a dividend yield of 2.31%. ConocoPhillips’s dividend payout ratio is -34.98%.

A number of equities analysts have recently commented on COP shares. Scotiabank set a $54.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Saturday, July 1st. BidaskClub upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Sanford C. Bernstein lowered shares of ConocoPhillips from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $63.00 to $42.00 in a report on Thursday, July 6th. ValuEngine upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $62.00 price target on shares of ConocoPhillips in a report on Thursday, June 15th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. ConocoPhillips currently has a consensus rating of “Buy” and a consensus target price of $54.19.

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ConocoPhillips Company Profile

ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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