Pointe Capital Management LLC reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 25.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,013 shares of the energy producer’s stock after selling 2,414 shares during the quarter. Pointe Capital Management LLC’s holdings in ConocoPhillips were worth $308,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. State Street Corp increased its holdings in ConocoPhillips by 3.9% during the 1st quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock valued at $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% during the 1st quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $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% during the 1st quarter. Macquarie Group Ltd. now owns 15,981,830 shares of the energy producer’s stock valued at $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% during the 1st quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock valued at $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% during the 1st quarter. First Eagle Investment Management LLC now owns 10,065,496 shares of the energy producer’s stock valued at $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.

Shares of ConocoPhillips (COP) opened at 48.86 on Friday. The firm’s market capitalization is $59.46 billion. The company has a 50 day moving average of $46.33 and a 200 day moving average of $45.93. ConocoPhillips has a 52-week low of $40.37 and a 52-week high of $53.17.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.16. The company had revenue of $8.88 billion for the quarter, compared to the consensus estimate of $6.74 billion. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. During the same quarter in the prior year, the company earned ($0.79) EPS. On average, analysts anticipate that ConocoPhillips will post $0.27 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a yield of 2.17%. ConocoPhillips’s dividend payout ratio is currently -34.98%.

COP has been the subject of several recent research reports. Scotiabank set a $54.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a report on Saturday, July 1st. Royal Bank Of Canada restated a “buy” rating and set a $62.00 target price on shares of ConocoPhillips in a report on Thursday, June 15th. Citigroup Inc. dropped 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 company a “buy” rating in a report on Tuesday, July 18th. Finally, Bank of America Corporation upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and raised their target price for the company from $51.00 to $58.00 in a report on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. ConocoPhillips currently has an average rating of “Buy” and an average price target of $54.45.

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ConocoPhillips 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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