Greenwood Capital Associates LLC Lowers Stake in ConocoPhillips (COP)

Greenwood Capital Associates LLC reduced its position in shares of ConocoPhillips (NYSE:COP) by 0.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,438 shares of the energy producer’s stock after selling 11 shares during the period. ConocoPhillips comprises 1.3% of Greenwood Capital Associates LLC’s portfolio, making the stock its 18th largest position. Greenwood Capital Associates LLC’s holdings in ConocoPhillips were worth $4,859,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. First Eagle Investment Management LLC increased its position in ConocoPhillips by 21.0% in the first quarter. First Eagle Investment Management LLC now owns 10,065,496 shares of the energy producer’s stock worth $501,966,000 after buying an additional 1,744,860 shares during the period. Swiss National Bank boosted its stake in ConocoPhillips by 27.3% in the first quarter. Swiss National Bank now owns 4,390,099 shares of the energy producer’s stock valued at $218,934,000 after buying an additional 940,600 shares during the period. UBS Asset Management Americas Inc. boosted its stake in ConocoPhillips by 21.2% in the first quarter. UBS Asset Management Americas Inc. now owns 4,174,799 shares of the energy producer’s stock valued at $208,197,000 after buying an additional 730,325 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in ConocoPhillips by 74.3% in the first quarter. State of New Jersey Common Pension Fund D now owns 2,345,000 shares of the energy producer’s stock valued at $116,945,000 after buying an additional 1,000,000 shares during the period. Finally, First Manhattan Co. boosted its stake in ConocoPhillips by 71.7% in the first quarter. First Manhattan Co. now owns 2,299,139 shares of the energy producer’s stock valued at $99,943,000 after buying an additional 959,712 shares during the period. 68.84% of the stock is owned by institutional investors and hedge funds.

Shares of ConocoPhillips (COP) traded down 0.40% during midday trading on Friday, hitting $44.79. The stock had a trading volume of 4,206,885 shares. ConocoPhillips has a 52-week low of $39.00 and a 52-week high of $53.17. The company’s market cap is $54.51 billion. The company’s 50 day moving average is $44.17 and its 200 day moving average is $46.53.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.16. The business had revenue of $8.88 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the firm earned ($0.79) EPS. On average, analysts anticipate that ConocoPhillips will post $0.25 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, July 24th will be issued a dividend of $0.265 per share. The ex-dividend date is Thursday, July 20th. This represents a $1.06 annualized dividend and a dividend yield of 2.37%. ConocoPhillips’s dividend payout ratio is presently -34.98%.

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Several brokerages have issued reports on COP. Zacks Investment Research raised ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a report on Friday. Scotiabank set a $54.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research note on Tuesday, August 1st. Jefferies Group LLC set a $59.00 price target on ConocoPhillips and gave the stock a “buy” rating in a research note on Sunday, July 30th. Finally, Cowen and Company set a $55.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a report on Tuesday, July 18th. 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 issued a strong buy rating to the company. ConocoPhillips has a consensus rating of “Buy” and a consensus target price of $55.18.

In other news, VP James D. Mcmorran sold 9,091 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $47.47, for a total transaction of $431,549.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate 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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