First Interstate Bank lowered its position in ConocoPhillips (NYSE:COP) by 24.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,068 shares of the energy producer’s stock after selling 1,306 shares during the period. First Interstate Bank’s holdings in ConocoPhillips were worth $203,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Oakbrook Investments LLC increased its stake in ConocoPhillips by 5.9% in the first quarter. Oakbrook Investments LLC now owns 122,800 shares of the energy producer’s stock worth $6,124,000 after buying an additional 6,800 shares during the period. Gemmer Asset Management LLC increased its stake in ConocoPhillips by 0.4% in the first quarter. Gemmer Asset Management LLC now owns 2,167 shares of the energy producer’s stock worth $108,000 after buying an additional 8 shares during the period. Bollard Group LLC increased its stake in ConocoPhillips by 8.1% in the first quarter. Bollard Group LLC now owns 145,169 shares of the energy producer’s stock worth $7,240,000 after buying an additional 10,852 shares during the period. Ledyard National Bank increased its stake in ConocoPhillips by 109.8% in the first quarter. Ledyard National Bank now owns 8,198 shares of the energy producer’s stock worth $409,000 after buying an additional 4,290 shares during the period. Finally, Everence Capital Management Inc. increased its stake in ConocoPhillips by 9.3% in the first quarter. Everence Capital Management Inc. now owns 52,884 shares of the energy producer’s stock worth $2,637,000 after buying an additional 4,490 shares during the period. Institutional investors and hedge funds own 68.98% of the company’s stock.

Shares of ConocoPhillips (NYSE:COP) traded down 0.964% during midday trading on Tuesday, reaching $42.635. 1,277,069 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $43.96 and its 200 day moving average price is $46.07. The firm’s market capitalization is $51.88 billion. ConocoPhillips has a one year low of $39.00 and a one year high of $53.17.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 firm had revenue of $8.88 billion during the quarter, compared to analysts’ expectations of $6.74 billion. During the same period in the previous year, the business earned ($0.79) earnings per share. On average, equities research analysts expect that ConocoPhillips will post $0.24 earnings per share 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 given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, July 20th. ConocoPhillips’s payout ratio is -34.98%.

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Several research firms have recently weighed in on COP. Bank of America Corporation downgraded shares of ConocoPhillips from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $68.00 to $67.00 in a research note on Thursday, May 11th. Jefferies Group LLC upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and lifted their target price for the stock from $55.00 to $59.00 in a research note on Wednesday, May 17th. BidaskClub upgraded shares of ConocoPhillips from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Royal Bank Of Canada reiterated a “buy” rating and issued a $62.00 target price on shares of ConocoPhillips in a research note on Thursday, June 15th. Finally, Zacks Investment Research upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $54.13.

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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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