Ameriprise Financial Inc. Cuts Stake in ConocoPhillips (COP)

Ameriprise Financial Inc. decreased its stake in shares of ConocoPhillips (NYSE:COP) by 38.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,397,566 shares of the energy producer’s stock after selling 5,279,077 shares during the period. Ameriprise Financial Inc. owned approximately 0.69% of ConocoPhillips worth $369,159,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in COP. Paragon Capital Management LLC boosted its stake in shares of ConocoPhillips by 13.8% during the 1st quarter. Paragon Capital Management LLC now owns 169,665 shares of the energy producer’s stock valued at $8,461,000 after purchasing an additional 20,521 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in shares of ConocoPhillips by 1.0% during the 1st quarter. Eagle Asset Management Inc. now owns 30,648 shares of the energy producer’s stock valued at $1,528,000 after purchasing an additional 307 shares in the last quarter. Warren Averett Asset Management LLC boosted its stake in shares of ConocoPhillips by 11.8% during the 1st quarter. Warren Averett Asset Management LLC now owns 6,099 shares of the energy producer’s stock valued at $304,000 after purchasing an additional 645 shares in the last quarter. Advantage Investment Management LLC boosted its stake in shares of ConocoPhillips by 65.3% during the 1st quarter. Advantage Investment Management LLC now owns 2,425 shares of the energy producer’s stock valued at $121,000 after purchasing an additional 958 shares in the last quarter. Finally, Virginia Retirement Systems ET AL boosted its stake in ConocoPhillips by 9.6% during the first quarter. Virginia Retirement Systems ET AL now owns 459,499 shares of the energy producer’s stock worth $22,915,000 after acquiring an additional 40,209 shares in the last quarter. 70.17% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on COP shares. Citigroup Inc. dropped their price objective on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Cowen and Company set a $55.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Royal Bank Of Canada set a $62.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Sunday, July 16th. Scotiabank set a $54.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Finally, Jefferies Group LLC set a $59.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Sunday, July 30th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. ConocoPhillips has a consensus rating of “Hold” and a consensus price target of $55.37.

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ConocoPhillips (NYSE:COP) opened at $52.99 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64. ConocoPhillips has a twelve month low of $42.26 and a twelve month high of $54.22. The firm has a market cap of $63,350.39, a P/E ratio of 2,649.50, a PEG ratio of 13.72 and a beta of 1.28.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, beating 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 firm had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $6.55 billion. During the same period in the previous year, the company earned ($0.66) earnings per share. analysts anticipate that ConocoPhillips will post 0.52 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, October 16th will be issued a dividend of $0.265 per share. 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 2.00%. ConocoPhillips’s dividend payout ratio is currently -57.30%.

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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