First Manhattan Co. increased its position in shares of ConocoPhillips (NYSE:COP) by 8.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,427,608 shares of the energy producer’s stock after acquiring an additional 106,323 shares during the quarter. First Manhattan Co. owned 0.12% of ConocoPhillips worth $62,757,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. grew its position in ConocoPhillips by 0.3% during the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock valued at $100,000 after purchasing an additional 6 shares in the last quarter. First Command Bank grew its position in ConocoPhillips by 9.4% during the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock valued at $101,000 after purchasing an additional 199 shares in the last quarter. Westside Investment Management Inc. grew its position in ConocoPhillips by 468.4% during the first quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock valued at $119,000 after purchasing an additional 2,000 shares in the last quarter. Advantage Investment Management LLC grew its position in ConocoPhillips by 65.3% during the first quarter. Advantage Investment Management LLC now owns 2,425 shares of the energy producer’s stock valued at $121,000 after purchasing an additional 958 shares in the last quarter. Finally, Reilly Financial Advisors LLC grew its position in ConocoPhillips by 20.5% during the second quarter. Reilly Financial Advisors LLC now owns 2,758 shares of the energy producer’s stock valued at $121,000 after purchasing an additional 470 shares in the last quarter. Institutional investors and hedge funds own 68.90% of the company’s stock.

A number of research analysts recently commented on the stock. Scotiabank reaffirmed a “buy” rating and set a $53.00 price objective on shares of ConocoPhillips in a research report on Friday. Royal Bank Of Canada reaffirmed a “buy” rating and set a $54.00 price objective on shares of ConocoPhillips in a research report on Friday. BidaskClub downgraded shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Zacks Investment Research raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Piper Jaffray Companies set a $45.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a research report on Friday, August 25th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. ConocoPhillips presently has a consensus rating of “Buy” and an average target price of $54.24.

Shares of ConocoPhillips (NYSE COP) opened at 50.05 on Friday. ConocoPhillips has a 52 week low of $39.00 and a 52 week high of $53.17. The firm’s market capitalization is $60.91 billion. The stock has a 50 day moving average of $44.59 and a 200-day moving average of $45.61.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $6.74 billion. During the same period last year, the business earned ($0.79) earnings per share. Equities analysts anticipate that ConocoPhillips will post $0.27 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, July 24th were paid a $0.265 dividend. The ex-dividend date of this dividend was Thursday, July 20th. This represents a $1.06 annualized dividend and a dividend yield of 2.12%. ConocoPhillips’s dividend payout ratio is presently -34.98%.

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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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