SignalPoint Asset Management LLC lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,744 shares of the energy producer’s stock after selling 376 shares during the quarter. SignalPoint Asset Management LLC’s holdings in ConocoPhillips were worth $911,000 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. Financial Management Professionals Inc. boosted its holdings in shares of ConocoPhillips by 0.3% during the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after acquiring an additional 6 shares during the period. Canal Capital Management LLC boosted its holdings in shares of ConocoPhillips by 0.3% during the second quarter. Canal Capital Management LLC now owns 6,342 shares of the energy producer’s stock worth $279,000 after acquiring an additional 22 shares during the period. Wendell David Associates Inc. boosted its holdings in shares of ConocoPhillips by 0.3% during the second quarter. Wendell David Associates Inc. now owns 7,561 shares of the energy producer’s stock worth $332,000 after acquiring an additional 26 shares during the period. Sheets Smith Wealth Management boosted its holdings in shares of ConocoPhillips by 0.3% during the second quarter. Sheets Smith Wealth Management now owns 13,694 shares of the energy producer’s stock worth $602,000 after acquiring an additional 37 shares during the period. Finally, Cornerstone Advisors Inc. boosted its holdings in shares of ConocoPhillips by 1.0% during the second quarter. Cornerstone Advisors Inc. now owns 3,755 shares of the energy producer’s stock worth $165,000 after acquiring an additional 37 shares during the period. 68.90% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of ConocoPhillips (COP) opened at 48.86 on Friday. ConocoPhillips has a 12-month low of $40.37 and a 12-month high of $53.17. The company has a 50-day moving average price of $46.33 and a 200-day moving average price of $45.93. The firm’s market capitalization is $59.46 billion.

ConocoPhillips (NYSE:COP) last issued its earnings results 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 for the quarter, compared to analysts’ expectations 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 last year, the company earned ($0.79) EPS. Equities analysts predict that ConocoPhillips will post $0.27 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.17%. ConocoPhillips’s payout ratio is presently -34.98%.

A number of brokerages have recently issued reports on COP. Royal Bank Of Canada restated a “buy” rating and set a $54.00 price objective on shares of ConocoPhillips in a report on Friday, September 29th. Scotiabank restated a “buy” rating and set a $53.00 price objective on shares of ConocoPhillips in a report on Friday, September 29th. J P Morgan Chase & Co restated an “overweight” rating on shares of ConocoPhillips in a report on Saturday, September 16th. BidaskClub upgraded ConocoPhillips from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Finally, Zacks Investment Research upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $54.45.

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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