ConocoPhillips (COP) Position Trimmed by Sigma Planning Corp

Sigma Planning Corp lowered its position in ConocoPhillips (NYSE:COP) by 22.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 23,000 shares of the energy producer’s stock after selling 6,765 shares during the period. Sigma Planning Corp’s holdings in ConocoPhillips were worth $1,011,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Financial Management Professionals Inc. lifted its stake in ConocoPhillips by 0.3% in the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after purchasing an additional 6 shares in the last quarter. First Command Bank lifted its stake in ConocoPhillips by 9.4% in the 2nd quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock worth $101,000 after purchasing an additional 199 shares in the last quarter. Westside Investment Management Inc. lifted its stake in ConocoPhillips by 468.4% in the 1st quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock worth $119,000 after purchasing an additional 2,000 shares in the last quarter. Advantage Investment Management LLC lifted its stake in ConocoPhillips by 65.3% in the 1st quarter. Advantage Investment Management LLC now owns 2,425 shares of the energy producer’s stock worth $121,000 after purchasing an additional 958 shares in the last quarter. Finally, Reilly Financial Advisors LLC lifted its stake in ConocoPhillips by 20.5% in the 2nd quarter. Reilly Financial Advisors LLC now owns 2,758 shares of the energy producer’s stock worth $121,000 after purchasing an additional 470 shares in the last quarter. 68.90% of the stock is owned by institutional investors.

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COP has been the topic of several research analyst reports. Jefferies Group LLC set a $54.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Royal Bank Of Canada set a $54.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Thursday, August 24th. Zacks Investment Research cut shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. BidaskClub upgraded shares of ConocoPhillips from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Finally, Piper Jaffray Companies set a $45.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Friday, August 25th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $54.15.

Shares of ConocoPhillips (NYSE COP) opened at 49.19 on Wednesday. The stock’s market capitalization is $59.86 billion. ConocoPhillips has a 12 month low of $40.37 and a 12 month high of $53.17. The stock’s 50 day moving average is $46.68 and its 200 day moving average is $46.01.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.16. The firm had revenue of $8.88 billion for the quarter, compared to analyst estimates 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 period in the previous year, the business posted ($0.79) earnings per share. Analysts anticipate that ConocoPhillips will post $0.28 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be given a dividend of $0.265 per share. The ex-dividend date is Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a yield of 2.15%. ConocoPhillips’s payout ratio is presently -34.98%.

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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