State of Alaska Department of Revenue lifted its holdings in ConocoPhillips (NYSE:COP) by 10.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,287 shares of the energy producer’s stock after purchasing an additional 410 shares during the period. State of Alaska Department of Revenue’s holdings in ConocoPhillips were worth $188,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. State Street Corp increased its holdings in ConocoPhillips by 3.9% in the 1st quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock worth $3,260,918,000 after acquiring an additional 2,452,533 shares in the last quarter. FMR LLC increased its holdings in ConocoPhillips by 6.9% in the 1st quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock worth $3,066,900,000 after acquiring an additional 3,982,002 shares in the last quarter. Macquarie Group Ltd. increased its holdings in ConocoPhillips by 1.1% in the 1st quarter. Macquarie Group Ltd. now owns 15,981,830 shares of the energy producer’s stock worth $797,013,000 after acquiring an additional 176,055 shares in the last quarter. Wellington Management Group LLP increased its holdings in ConocoPhillips by 255.3% in the 1st quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock worth $638,530,000 after acquiring an additional 9,200,014 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in ConocoPhillips by 21.0% in the 1st quarter. First Eagle Investment Management LLC now owns 10,065,496 shares of the energy producer’s stock worth $501,966,000 after acquiring an additional 1,744,860 shares in the last quarter. Hedge funds and other institutional investors own 68.90% of the company’s stock.

Several equities research analysts recently issued reports on COP shares. Scotiabank set a $54.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Saturday, July 1st. Royal Bank Of Canada reissued a “buy” rating and issued a $62.00 target price on shares of ConocoPhillips in a report on Thursday, June 15th. Citigroup Inc. reduced their target price on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a report on Friday, July 21st. Cowen and Company set a $55.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Tuesday, July 18th. Finally, Bank of America Corporation raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and increased their target price for the stock from $51.00 to $58.00 in a report on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $54.19.

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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.

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, July 24th were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Thursday, July 20th. ConocoPhillips’s payout ratio is -34.98%.

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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