Asset Advisors Corp Lowers Stake in ConocoPhillips (NYSE:COP)

Asset Advisors Corp decreased its stake in ConocoPhillips (NYSE:COP) by 17.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,100 shares of the energy producer’s stock after selling 3,400 shares during the period. Asset Advisors Corp’s holdings in ConocoPhillips were worth $708,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in COP. First Command Bank increased its position in ConocoPhillips by 9.4% in the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock valued at $101,000 after buying an additional 199 shares during the last quarter. Gemmer Asset Management LLC increased its position in ConocoPhillips by 0.4% in the first quarter. Gemmer Asset Management LLC now owns 2,167 shares of the energy producer’s stock valued at $108,000 after buying an additional 8 shares during the last quarter. Quadrant Capital Group LLC increased its position in ConocoPhillips by 30.9% in the first quarter. Quadrant Capital Group LLC now owns 2,413 shares of the energy producer’s stock valued at $109,000 after buying an additional 569 shares during the last quarter. Financial Management Professionals Inc. increased its position in ConocoPhillips by 0.3% in the first quarter. Financial Management Professionals Inc. now owns 2,288 shares of the energy producer’s stock valued at $114,000 after buying an additional 6 shares during the last quarter. Finally, Advocacy Wealth Management Services LLC increased its position in ConocoPhillips by 4.5% in the first quarter. Advocacy Wealth Management Services LLC now owns 2,329 shares of the energy producer’s stock valued at $116,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 68.84% of the company’s stock.

Shares of ConocoPhillips (COP) traded down 0.04% during trading on Friday, reaching $44.95. 2,060,941 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $44.17 and a 200 day moving average price of $46.53. ConocoPhillips has a 12 month low of $39.00 and a 12 month high of $53.17. The firm’s market cap is $54.70 billion.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.16. The business had revenue of $8.88 billion during the quarter, compared to the consensus estimate of $6.74 billion. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. During the same period in the previous year, the company posted ($0.79) EPS. On average, analysts forecast that ConocoPhillips will post $0.25 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, July 24th will be paid a dividend of $0.265 per share. The ex-dividend date is Thursday, July 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.36%. ConocoPhillips’s dividend payout ratio is currently -34.98%.

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Several research firms have recently issued reports on COP. Scotiabank set a $54.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Saturday, July 1st. Royal Bank Of Canada reiterated a “buy” rating and issued a $62.00 target price on shares of ConocoPhillips in a research note on Thursday, June 15th. Cowen and Company reiterated a “buy” rating on shares of ConocoPhillips in a research note on Friday, April 14th. Jefferies Group LLC upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and upped their target price for the stock from $55.00 to $59.00 in a research note on Wednesday, May 17th. Finally, Citigroup Inc. reduced their target price on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. ConocoPhillips currently has an average rating of “Buy” and a consensus price target of $55.18.

In other ConocoPhillips news, VP James D. Mcmorran sold 9,091 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $47.47, for a total transaction of $431,549.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.82% of the company’s stock.

About ConocoPhillips

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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