Jupiter Asset Management Ltd. Decreases Stake in ConocoPhillips (NYSE:COP)

Jupiter Asset Management Ltd. reduced its stake in shares of ConocoPhillips (NYSE:COP) by 53.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,851 shares of the energy producer’s stock after selling 123,495 shares during the period. Jupiter Asset Management Ltd.’s holdings in ConocoPhillips were worth $5,379,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. First Eagle Investment Management LLC raised 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 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. First Manhattan Co. raised 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. Swiss National Bank raised 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. Finally, UBS Asset Management Americas Inc. raised 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. 68.68% of the stock is currently owned by institutional investors.

Shares of ConocoPhillips (NYSE COP) opened at 43.11 on Friday. ConocoPhillips has a 52 week low of $39.00 and a 52 week high of $53.17. The firm’s market cap is $52.46 billion. The firm’s 50-day moving average price is $44.10 and its 200-day moving average price is $46.28.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.16. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. The business had revenue of $8.88 billion for the quarter, compared to analyst estimates of $6.74 billion. During the same period in the previous year, the company posted ($0.79) earnings per share. Equities research analysts expect that ConocoPhillips will post $0.24 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, July 24th will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $1.06 annualized dividend 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 research reports. BidaskClub lowered ConocoPhillips from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 27th. Citigroup Inc. lowered their target price on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Royal Bank Of Canada set a $62.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research report on Sunday, July 16th. Sanford C. Bernstein downgraded ConocoPhillips from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $63.00 to $42.00 in a research report on Thursday, July 6th. Finally, Zacks Investment Research downgraded ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. 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 issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $55.18.

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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