Advisors Asset Management Inc. decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 20.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,405 shares of the energy producer’s stock after selling 22,643 shares during the quarter. Advisors Asset Management Inc.’s holdings in ConocoPhillips were worth $3,974,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of COP. Wellington Management Group LLP boosted its position in ConocoPhillips by 255.3% during the first quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock valued at $638,530,000 after purchasing an additional 9,200,014 shares during the last quarter. FMR LLC boosted its position in ConocoPhillips by 6.9% during the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after purchasing an additional 3,982,002 shares during the last quarter. State Street Corp boosted its position in ConocoPhillips by 3.9% during the first quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock valued at $3,260,918,000 after purchasing an additional 2,452,533 shares during the last quarter. First Eagle Investment Management LLC boosted its position in ConocoPhillips by 21.0% during the first quarter. First Eagle Investment Management LLC now owns 10,065,496 shares of the energy producer’s stock valued at $501,966,000 after purchasing an additional 1,744,860 shares during the last quarter. Finally, Swiss National Bank boosted its position in ConocoPhillips by 27.3% during the first quarter. Swiss National Bank now owns 4,390,099 shares of the energy producer’s stock valued at $218,934,000 after purchasing an additional 940,600 shares during the last quarter. Institutional investors and hedge funds own 68.90% of the company’s stock.

ConocoPhillips (COP) opened at 49.81 on Friday. The company’s market capitalization is $60.62 billion. ConocoPhillips has a 1-year low of $40.37 and a 1-year high of $53.17. The stock has a 50 day moving average price of $47.04 and a 200-day moving average price of $46.06.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.16. The firm had revenue of $8.88 billion during the quarter, compared to the consensus estimate of $6.74 billion. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. During the same period last year, the business posted ($0.79) earnings per share. Equities analysts predict that ConocoPhillips will post $0.29 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, October 16th will be given a dividend of $0.265 per share. The ex-dividend date is Friday, October 13th. This represents a $1.06 annualized dividend and a yield of 2.13%. ConocoPhillips’s dividend payout ratio (DPR) is presently -34.98%.

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A number of analysts recently issued reports on the company. Barclays PLC lifted their price objective on ConocoPhillips from $51.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday. Zacks Investment Research cut ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Tuesday. Royal Bank Of Canada reissued a “buy” rating and set a $54.00 price objective on shares of ConocoPhillips in a research report on Friday, September 29th. Scotiabank reissued a “buy” rating and set a $53.00 price objective on shares of ConocoPhillips in a research report on Friday, September 29th. Finally, J P Morgan Chase & Co reissued an “overweight” rating on shares of ConocoPhillips in a research report on Saturday, September 16th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. ConocoPhillips has an average rating of “Hold” and a consensus price target of $54.15.

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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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