ConocoPhillips (COP) Stake Lessened by Private Asset Management Inc.

Private Asset Management Inc. lowered its position in ConocoPhillips (NYSE:COP) by 96.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 288 shares of the energy producer’s stock after selling 8,978 shares during the period. Private Asset Management Inc.’s holdings in ConocoPhillips were worth $288,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of COP. Financial Management Professionals Inc. increased its stake in shares of ConocoPhillips by 0.3% in the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock valued at $100,000 after acquiring an additional 6 shares in the last quarter. Cornerstone Advisors Inc. increased its stake in shares of ConocoPhillips by 1.0% in the 2nd quarter. Cornerstone Advisors Inc. now owns 3,755 shares of the energy producer’s stock valued at $165,000 after acquiring an additional 37 shares in the last quarter. WFG Advisors LP increased its stake in shares of ConocoPhillips by 0.4% in the 2nd quarter. WFG Advisors LP now owns 9,611 shares of the energy producer’s stock valued at $423,000 after acquiring an additional 39 shares in the last quarter. Genesee Valley Trust Co. increased its stake in shares of ConocoPhillips by 0.6% in the 2nd quarter. Genesee Valley Trust Co. now owns 7,095 shares of the energy producer’s stock valued at $312,000 after acquiring an additional 45 shares in the last quarter. Finally, Girard Partners LTD. increased its stake in shares of ConocoPhillips by 0.6% in the 2nd quarter. Girard Partners LTD. now owns 8,434 shares of the energy producer’s stock valued at $371,000 after acquiring an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 69.87% of the company’s stock.

Shares of ConocoPhillips (COP) opened at $51.23 on Wednesday. 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 stock has a market cap of $61,318.02, a price-to-earnings ratio of 2,564.50, a PEG ratio of 12.60 and a beta of 1.26.

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

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, October 16th were issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, October 13th. ConocoPhillips’s dividend payout ratio (DPR) is currently -57.30%.

COP has been the subject of several research analyst reports. BidaskClub upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Royal Bank Of Canada set a $54.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Thursday, August 24th. Piper Jaffray Companies set a $45.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Friday, August 25th. Jefferies Group set a $54.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Tuesday, August 29th. Finally, Scotiabank restated a “buy” rating and set a $52.00 price target on shares of ConocoPhillips in a research note on Friday, September 8th. Two research 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 company. ConocoPhillips presently has an average rating of “Buy” and a consensus target price of $55.59.

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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.

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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