Voya Investment Management LLC Sells 14,646 Shares of ConocoPhillips (COP)

Voya Investment Management LLC lessened its holdings in ConocoPhillips (NYSE:COP) by 1.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 795,859 shares of the energy producer’s stock after selling 14,646 shares during the period. Voya Investment Management LLC owned 0.07% of ConocoPhillips worth $34,986,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Patten & Patten Inc. TN lifted its holdings in shares of ConocoPhillips by 4.6% in the second quarter. Patten & Patten Inc. TN now owns 59,322 shares of the energy producer’s stock valued at $2,608,000 after purchasing an additional 2,607 shares in the last quarter. Point View Wealth Management Inc. lifted its holdings in shares of ConocoPhillips by 19.8% in the second quarter. Point View Wealth Management Inc. now owns 32,939 shares of the energy producer’s stock valued at $1,448,000 after purchasing an additional 5,452 shares in the last quarter. Freestone Capital Holdings LLC lifted its holdings in shares of ConocoPhillips by 78.7% in the second quarter. Freestone Capital Holdings LLC now owns 8,047 shares of the energy producer’s stock valued at $354,000 after purchasing an additional 3,543 shares in the last quarter. Shell Asset Management Co. lifted its holdings in shares of ConocoPhillips by 2.4% in the second quarter. Shell Asset Management Co. now owns 202,066 shares of the energy producer’s stock valued at $8,883,000 after purchasing an additional 4,647 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of ConocoPhillips by 6.9% in the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after purchasing an additional 3,982,002 shares in the last quarter. 69.83% of the stock is currently owned by institutional investors.

Several analysts have issued reports on COP shares. Bank of America Corporation raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and upped their price target for the company from $51.00 to $58.00 in a report on Friday, July 28th. Jefferies Group LLC set a $59.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Sunday, July 30th. BidaskClub raised shares of ConocoPhillips from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Scotiabank set a $54.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. ConocoPhillips presently has a consensus rating of “Buy” and an average price target of $55.37.

Shares of ConocoPhillips (NYSE COP) opened at $50.01 on Wednesday. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $54.22. The stock has a market cap of $59,871.44, a price-to-earnings ratio of 2,504.00, a PEG ratio of 12.31 and a beta of 1.28. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, topping 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 company had revenue of $7.20 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the prior year, the business earned ($0.66) earnings per share. research analysts forecast that ConocoPhillips will post 0.54 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, October 16th will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, October 13th. ConocoPhillips’s payout ratio is currently -57.30%.

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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.

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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