ConocoPhillips (COP) Position Cut by Spears Abacus Advisors LLC

Spears Abacus Advisors LLC lowered its position in shares of ConocoPhillips (NYSE:COP) by 0.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,749 shares of the energy producer’s stock after selling 164 shares during the period. Spears Abacus Advisors LLC’s holdings in ConocoPhillips were worth $885,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new position in ConocoPhillips during the first quarter worth approximately $193,000. First Foundation Advisors acquired a new position in ConocoPhillips during the first quarter worth approximately $497,000. Capital Investment Advisors LLC raised its position in ConocoPhillips by 10.3% in the first quarter. Capital Investment Advisors LLC now owns 26,482 shares of the energy producer’s stock worth $1,321,000 after buying an additional 2,477 shares during the last quarter. Shell Asset Management Co. raised its position in ConocoPhillips by 1.0% in the first quarter. Shell Asset Management Co. now owns 197,419 shares of the energy producer’s stock worth $9,845,000 after buying an additional 1,887 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in ConocoPhillips by 21.2% in the first quarter. UBS Asset Management Americas Inc. now owns 4,174,799 shares of the energy producer’s stock worth $208,197,000 after buying an additional 730,325 shares during the last quarter. 68.68% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips (NYSE:COP) traded up 0.26% during mid-day trading on Friday, hitting $43.11. The company had a trading volume of 7,310,360 shares. ConocoPhillips has a 1-year low of $39.00 and a 1-year high of $53.17. The firm’s market capitalization is $52.46 billion. The company has a 50 day moving average of $44.10 and a 200 day moving average of $46.28.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.16. The company 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 quarter in the previous year, the firm posted ($0.79) earnings per share. Analysts predict that ConocoPhillips will post $0.24 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, July 24th will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Thursday, July 20th. ConocoPhillips’s dividend payout ratio (DPR) is -34.98%.

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COP has been the subject of a number of recent analyst reports. Royal Bank Of Canada set a $62.00 price target on ConocoPhillips and gave the company a “buy” rating in a research report on Sunday, July 16th. Zacks Investment Research lowered ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. BidaskClub raised ConocoPhillips from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Jefferies Group LLC reaffirmed a “hold” rating and set a $55.00 price target on shares of ConocoPhillips in a research report on Friday, May 5th. Finally, Scotiabank set a $54.00 price target on ConocoPhillips and gave the company a “buy” rating in a research report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $55.18.

ConocoPhillips Company 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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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