Tdam USA Inc. reduced its position in ConocoPhillips (NYSE:COP) by 14.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,532 shares of the energy producer’s stock after selling 6,137 shares during the quarter. Tdam USA Inc.’s holdings in ConocoPhillips were worth $1,566,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Davis R M Inc. boosted its holdings in shares of ConocoPhillips by 19.0% in the second quarter. Davis R M Inc. now owns 177,997 shares of the energy producer’s stock valued at $7,825,000 after acquiring an additional 28,368 shares during the period. Beach Investment Management LLC. acquired a new stake in shares of ConocoPhillips in the second quarter valued at approximately $2,035,000. Peak Asset Management LLC boosted its holdings in shares of ConocoPhillips by 10.0% in the second quarter. Peak Asset Management LLC now owns 100,114 shares of the energy producer’s stock valued at $4,401,000 after acquiring an additional 9,074 shares during the period. Lowe Brockenbrough & Co. Inc. boosted its holdings in shares of ConocoPhillips by 39.7% in the second quarter. Lowe Brockenbrough & Co. Inc. now owns 21,473 shares of the energy producer’s stock valued at $944,000 after acquiring an additional 6,103 shares during the period. Finally, Rand Wealth LLC boosted its holdings in shares of ConocoPhillips by 10.6% in the second quarter. Rand Wealth LLC now owns 37,638 shares of the energy producer’s stock valued at $1,655,000 after acquiring an additional 3,619 shares during the period. 68.90% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on the company. Wolfe Research downgraded ConocoPhillips from an “outperform” rating to a “market perform” rating in a report on Monday, July 17th. Scotiabank set a $54.00 price objective on ConocoPhillips and gave the company a “buy” rating in a report on Saturday, July 1st. ValuEngine raised ConocoPhillips from a “sell” rating to a “hold” rating in a report on Monday, July 24th. BidaskClub downgraded ConocoPhillips from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 27th. Finally, Citigroup Inc. decreased their price target on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. ConocoPhillips presently has an average rating of “Buy” and an average price target of $54.45.

ConocoPhillips (NYSE:COP) opened at 49.31 on Thursday. ConocoPhillips has a 12 month low of $40.37 and a 12 month high of $53.17. The stock has a 50 day moving average price of $45.99 and a 200-day moving average price of $45.88. The stock’s market cap is $60.01 billion.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, topping the Zacks’ 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 company had revenue of $8.88 billion for the quarter, compared to the consensus estimate of $6.74 billion. During the same quarter in the previous year, the business earned ($0.79) EPS. On average, analysts expect that ConocoPhillips will post $0.27 EPS for the current year.

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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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