Ipswich Investment Management Co. Inc. decreased its position in ConocoPhillips (NYSE:COP) by 3.0% during the second quarter, Holdings Channel reports. The institutional investor owned 8,321 shares of the energy producer’s stock after selling 260 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in ConocoPhillips were worth $366,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. First Command Bank raised its position in ConocoPhillips by 9.4% in the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock worth $101,000 after buying an additional 199 shares in the last quarter. Gemmer Asset Management LLC raised its position in ConocoPhillips by 0.4% in the first quarter. Gemmer Asset Management LLC now owns 2,167 shares of the energy producer’s stock worth $108,000 after buying an additional 8 shares in the last quarter. Quadrant Capital Group LLC raised its position in ConocoPhillips by 30.9% in the first quarter. Quadrant Capital Group LLC now owns 2,413 shares of the energy producer’s stock worth $109,000 after buying an additional 569 shares in the last quarter. Financial Management Professionals Inc. raised its position in ConocoPhillips by 0.3% in the first quarter. Financial Management Professionals Inc. now owns 2,288 shares of the energy producer’s stock worth $114,000 after buying an additional 6 shares in the last quarter. Finally, Advocacy Wealth Management Services LLC raised its position in ConocoPhillips by 4.5% in the first quarter. Advocacy Wealth Management Services LLC now owns 2,329 shares of the energy producer’s stock worth $116,000 after buying an additional 100 shares in the last quarter. 68.68% of the stock is owned by institutional investors.

Shares of ConocoPhillips (COP) traded up 0.09% during midday trading on Monday, reaching $44.83. 1,936,321 shares of the company’s stock traded hands. The company’s market capitalization is $54.56 billion. The stock’s 50 day moving average is $44.17 and its 200-day moving average is $46.50. ConocoPhillips has a 52 week low of $39.00 and a 52 week high of $53.17.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.16. The company had revenue of $8.88 billion for the quarter, compared to analyst estimates of $6.74 billion. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. During the same quarter in the prior year, the company earned ($0.79) earnings per share. On average, analysts forecast that ConocoPhillips will post $0.25 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, July 24th will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Thursday, July 20th. ConocoPhillips’s dividend payout ratio (DPR) is -34.98%.

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A number of research firms have issued reports on COP. Jefferies Group LLC raised shares of ConocoPhillips from a “hold” rating to a “buy” rating and raised their price target for the stock from $55.00 to $59.00 in a research report on Wednesday, May 17th. Citigroup Inc. reduced their price target on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $52.00 price target on shares of ConocoPhillips in a research report on Thursday, June 22nd. Bank of America Corporation raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and raised their price target for the stock from $51.00 to $58.00 in a research report on Friday, July 28th. Finally, Guggenheim began coverage on shares of ConocoPhillips in a research report on Tuesday, April 18th. They set a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $55.18.

In other ConocoPhillips news, VP James D. Mcmorran sold 9,091 shares of the company’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $47.47, for a total value of $431,549.77. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.82% of the stock is currently owned by corporate insiders.

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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