Public Employees Retirement Association of Colorado lowered its position in ConocoPhillips (NYSE:COP) by 4.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,264 shares of the company’s stock after selling 13,534 shares during the period. Public Employees Retirement Association of Colorado’s holdings in ConocoPhillips were worth $11,348,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Quadrant Capital Group LLC raised its stake in shares of ConocoPhillips by 100.0% in the second quarter. Quadrant Capital Group LLC now owns 2,742 shares of the company’s stock worth $109,000 after buying an additional 1,371 shares during the period. Diligent Investors LLC raised its stake in shares of ConocoPhillips by 5.1% in the second quarter. Diligent Investors LLC now owns 5,327 shares of the company’s stock valued at $232,000 after buying an additional 257 shares during the last quarter. Flossbach Von Storch AG raised its stake in shares of ConocoPhillips by 0.6% in the second quarter. Flossbach Von Storch AG now owns 265,000 shares of the company’s stock valued at $11,554,000 after buying an additional 1,700 shares during the last quarter. Crossvault Capital Management LLC raised its stake in shares of ConocoPhillips by 1.1% in the second quarter. Crossvault Capital Management LLC now owns 92,834 shares of the company’s stock valued at $4,048,000 after buying an additional 1,025 shares during the last quarter. Finally, Garrison Financial Corp raised its stake in shares of ConocoPhillips by 9.8% in the second quarter. Garrison Financial Corp now owns 48,605 shares of the company’s stock valued at $2,119,000 after buying an additional 4,321 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

ConocoPhillips (NYSE:COP) traded down 1.14% during midday trading on Friday, hitting $41.67. The stock had a trading volume of 6,570,138 shares. ConocoPhillips has a 1-year low of $31.05 and a 1-year high of $57.24. The company’s market capitalization is $51.61 billion. The stock’s 50-day moving average is $41.83 and its 200-day moving average is $42.79.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.79) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.61) by $0.18. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.38 billion. ConocoPhillips had a negative net margin of 28.40% and a negative return on equity of 9.26%. ConocoPhillips’s revenue was down 35.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 earnings per share. Equities research analysts forecast that ConocoPhillips will post ($2.47) EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, October 17th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $1.00 dividend on an annualized basis and a yield of 2.40%. ConocoPhillips’s dividend payout ratio is presently -17.57%.

COP has been the topic of several research reports. Deutsche Bank AG restated a “buy” rating and issued a $62.00 target price on shares of ConocoPhillips in a research note on Thursday, June 16th. Jefferies Group restated a “sell” rating on shares of ConocoPhillips in a research note on Thursday, June 30th. JPMorgan Chase & Co. upgraded ConocoPhillips from an “underweight” rating to a “neutral” rating and set a $44.00 target price on the stock in a research note on Monday, July 11th. They noted that the move was a valuation call. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Wednesday, July 13th. Finally, Simmons restated a “neutral” rating on shares of ConocoPhillips in a research note on Thursday, August 11th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $49.69.

In other ConocoPhillips news, Director Arjun N. Murti purchased 6,500 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were acquired at an average cost of $39.72 per share, with a total value of $258,180.00. Following the completion of the acquisition, the director now directly owns 19,000 shares in the company, valued at $754,680. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Ellen Desanctis purchased 5,000 shares of the firm’s stock in a transaction on Thursday, August 11th. The shares were acquired at an average cost of $40.50 per share, for a total transaction of $202,500.00. Following the completion of the acquisition, the vice president now owns 22,010 shares of the company’s stock, valued at $891,405. The disclosure for this purchase can be found here. Company insiders own 0.07% of the company’s stock.

ConocoPhillips Company Profile

ConocoPhillips (ConocoPhillips) is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG). The Company operates through six operating segments, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International.

5 Day Chart for NYSE:COP

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