Kovitz Investment Group Partners LLC cut its holdings in ConocoPhillips (NYSE:COP) by 67.8% during the third quarter, HoldingsChannel reports. The firm owned 16,530 shares of the energy producer’s stock after selling 34,832 shares during the period. Kovitz Investment Group Partners LLC’s holdings in ConocoPhillips were worth $543,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Jennison Associates LLC boosted its holdings in ConocoPhillips by 637.0% during the second quarter. Jennison Associates LLC now owns 2,050,564 shares of the energy producer’s stock valued at $86,165,000 after purchasing an additional 1,772,340 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in ConocoPhillips by 10.2% during the second quarter. Macquarie Group Ltd. now owns 16,234,506 shares of the energy producer’s stock valued at $682,029,000 after purchasing an additional 1,504,864 shares in the last quarter. Bank of Montreal Can boosted its holdings in ConocoPhillips by 44.9% during the second quarter. Bank of Montreal Can now owns 4,562,445 shares of the energy producer’s stock valued at $174,968,000 after purchasing an additional 1,412,985 shares in the last quarter. AJO LP boosted its holdings in ConocoPhillips by 353.9% during the second quarter. AJO LP now owns 1,475,289 shares of the energy producer’s stock valued at $61,991,000 after purchasing an additional 1,150,237 shares in the last quarter. Finally, AMF Pensionsforsakring AB boosted its holdings in ConocoPhillips by 307.6% during the second quarter. AMF Pensionsforsakring AB now owns 1,377,573 shares of the energy producer’s stock valued at $57,886,000 after purchasing an additional 1,039,561 shares in the last quarter. Institutional investors and hedge funds own 63.10% of the company’s stock.

A number of equities research analysts have weighed in on the company. ValuEngine raised ConocoPhillips from a “hold” rating to a “buy” rating in a report on Monday, November 16th. KeyCorp reduced their target price on ConocoPhillips from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, October 20th. Morgan Stanley boosted their target price on ConocoPhillips from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, November 17th. Wells Fargo & Company reissued a “buy” rating on shares of ConocoPhillips in a report on Tuesday, September 15th. Finally, Royal Bank of Canada reissued a “buy” rating on shares of ConocoPhillips in a report on Wednesday, October 14th. Three equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $54.46.

COP opened at $39.65 on Friday. The company has a fifty day simple moving average of $33.07 and a 200 day simple moving average of $38.24. The stock has a market cap of $42.53 billion, a P/E ratio of -35.09 and a beta of 1.70. The company has a quick ratio of 2.16, a current ratio of 2.38 and a debt-to-equity ratio of 0.48. ConocoPhillips has a 12 month low of $20.84 and a 12 month high of $67.13.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 29th. The energy producer reported ($0.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.01). ConocoPhillips had a negative return on equity of 0.02% and a negative net margin of 5.66%. During the same period in the prior year, the firm posted $0.82 EPS. On average, equities research analysts expect that ConocoPhillips will post -0.89 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, October 19th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date is Friday, October 16th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.42. ConocoPhillips’s dividend payout ratio is 47.91%.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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