Greenwood Capital Associates LLC Decreases Stake in ConocoPhillips (COP)

Greenwood Capital Associates LLC reduced its stake in shares of ConocoPhillips (NYSE:COP) by 0.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 97,438 shares of the energy producer’s stock after selling 11 shares during the period. ConocoPhillips accounts for 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.

Other large investors have also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC boosted its stake 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. State of New Jersey Common Pension Fund D raised 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 in the last quarter. First Manhattan Co. raised its position 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 in the last quarter. Swiss National Bank raised its position 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 in the last quarter. Finally, UBS Asset Management Americas Inc. raised its position 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 in the last quarter. 68.68% of the stock is owned by institutional investors.

Shares of ConocoPhillips (COP) traded up 0.26% during midday trading on Friday, hitting $43.11. The company had a trading volume of 7,310,360 shares. The company’s 50-day moving average price is $44.10 and its 200 day moving average price is $46.28. ConocoPhillips has a 12-month low of $39.00 and a 12-month high of $53.17. The company’s market capitalization is $52.46 billion.

ConocoPhillips (NYSE:COP) last released 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. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. The business had revenue of $8.88 billion during the quarter, compared to analyst estimates of $6.74 billion. During the same period in the previous year, the business earned ($0.79) EPS. Equities research analysts predict that ConocoPhillips will post $0.24 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, July 24th will be paid a $0.265 dividend. The ex-dividend date is Thursday, July 20th. This represents a $1.06 dividend on an annualized basis and a yield of 2.46%. ConocoPhillips’s dividend payout ratio is -34.98%.

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COP has been the topic of several recent research reports. Scotiabank set a $54.00 price target on ConocoPhillips and gave the stock a “buy” rating in a research report on Saturday, July 1st. BidaskClub upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Sanford C. Bernstein lowered ConocoPhillips from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $63.00 to $42.00 in a report on Thursday, July 6th. ValuEngine upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, Bank of America Corporation lowered ConocoPhillips from a “buy” rating to a “neutral” rating and cut their price target for the company from $68.00 to $67.00 in a report on Thursday, May 11th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus 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.

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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