Altavista Wealth Management Inc. trimmed its position in shares of ConocoPhillips (NYSE:COP) by 13.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,463 shares of the energy producer’s stock after selling 3,681 shares during the period. Altavista Wealth Management Inc.’s holdings in ConocoPhillips were worth $1,075,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Financial Management Professionals Inc. grew its stake in ConocoPhillips by 0.3% during the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after buying an additional 6 shares in the last quarter. Sheets Smith Wealth Management grew its stake in ConocoPhillips by 0.3% during the second quarter. Sheets Smith Wealth Management now owns 13,694 shares of the energy producer’s stock worth $602,000 after buying an additional 37 shares in the last quarter. Cornerstone Advisors Inc. grew its stake in ConocoPhillips by 1.0% during the second quarter. Cornerstone Advisors Inc. now owns 3,755 shares of the energy producer’s stock worth $165,000 after buying an additional 37 shares in the last quarter. Genesee Valley Trust Co. grew its stake in ConocoPhillips by 0.6% during the second quarter. Genesee Valley Trust Co. now owns 7,095 shares of the energy producer’s stock worth $312,000 after buying an additional 45 shares in the last quarter. Finally, Girard Partners LTD. grew its stake in ConocoPhillips by 0.6% during the second quarter. Girard Partners LTD. now owns 8,434 shares of the energy producer’s stock worth $371,000 after buying an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 69.89% of the company’s stock.

Shares of ConocoPhillips (NYSE:COP) opened at $51.74 on Friday. ConocoPhillips has a one year low of $42.26 and a one year high of $54.22. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. The firm has a market cap of $60,827.86, a P/E ratio of 2,544.00, a PEG ratio of 12.50 and a beta of 1.27.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, topping the consensus estimate of $0.08 by $0.08. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. The business had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same period last year, the company earned ($0.66) EPS. sell-side analysts anticipate that ConocoPhillips will post 0.54 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, October 16th were given a dividend of $0.265 per share. The ex-dividend date of this dividend was Friday, October 13th. This represents a $1.06 annualized dividend and a yield of 2.05%. ConocoPhillips’s dividend payout ratio is presently -57.30%.

A number of equities research analysts have issued reports on the stock. Barclays reiterated an “overweight” rating and set a $55.00 price objective (up from $51.00) on shares of ConocoPhillips in a research note on Tuesday, October 10th. BidaskClub downgraded shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Piper Jaffray Companies reiterated a “buy” rating and set a $53.00 price objective on shares of ConocoPhillips in a research note on Friday, November 3rd. Wells Fargo & Company raised their price target on shares of ConocoPhillips from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Finally, Morgan Stanley raised their price target on shares of ConocoPhillips from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $55.59.

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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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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