ConocoPhillips (COP) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI decreased its stake in ConocoPhillips (NYSE:COP) by 2.6% during the first quarter, Holdings Channel reports. The firm owned 99,221 shares of the energy producer’s stock after selling 2,700 shares during the period. Parsons Capital Management Inc. RI’s holdings in ConocoPhillips were worth $4,948,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COP. Wellington Management Group LLP increased its position in ConocoPhillips by 255.3% in the first quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock valued at $638,530,000 after buying an additional 9,200,014 shares during the period. FMR LLC increased its position in ConocoPhillips by 6.9% in the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after buying an additional 3,982,002 shares during the period. State Street Corp increased its position in ConocoPhillips by 3.9% in the first quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock valued at $3,260,918,000 after buying an additional 2,452,533 shares during the period. 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 valued at $501,966,000 after buying an additional 1,744,860 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its position 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. Hedge funds and other institutional investors own 68.68% of the company’s stock.

Shares of ConocoPhillips (NYSE:COP) traded up 0.663% during mid-day trading on Friday, hitting $43.285. 2,427,132 shares of the stock were exchanged. The company has a 50-day moving average of $44.13 and a 200 day moving average of $46.32. ConocoPhillips has a one year low of $39.00 and a one year high of $53.17. The stock’s market cap is $52.68 billion.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, July 24th will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Thursday, July 20th. ConocoPhillips’s dividend payout ratio is presently -34.98%.

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COP has been the subject of several research analyst reports. BidaskClub downgraded shares of ConocoPhillips from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Citigroup Inc. reduced their price target on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Royal Bank Of Canada set a $62.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Sunday, July 16th. Sanford C. Bernstein downgraded shares of ConocoPhillips from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $63.00 to $42.00 in a research report on Thursday, July 6th. Finally, Zacks Investment Research downgraded shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. ConocoPhillips currently has an average rating of “Buy” and an average target price of $55.18.

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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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