SNS Financial Group LLC reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 4.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,593 shares of the energy producer’s stock after selling 324 shares during the period. SNS Financial Group LLC’s holdings in ConocoPhillips were worth $290,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Financial Management Professionals Inc. raised its holdings in ConocoPhillips by 0.3% in the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after buying an additional 6 shares during the last quarter. Canal Capital Management LLC raised its holdings in ConocoPhillips by 0.3% in the second quarter. Canal Capital Management LLC now owns 6,342 shares of the energy producer’s stock worth $279,000 after buying an additional 22 shares during the last quarter. Wendell David Associates Inc. raised its holdings in ConocoPhillips by 0.3% in the second quarter. Wendell David Associates Inc. now owns 7,561 shares of the energy producer’s stock worth $332,000 after buying an additional 26 shares during the last quarter. Sheets Smith Wealth Management raised its holdings in ConocoPhillips by 0.3% in the second quarter. Sheets Smith Wealth Management now owns 13,694 shares of the energy producer’s stock worth $602,000 after buying an additional 37 shares during the last quarter. Finally, Cornerstone Advisors Inc. raised its holdings in ConocoPhillips by 1.0% in the second quarter. Cornerstone Advisors Inc. now owns 3,755 shares of the energy producer’s stock worth $165,000 after buying an additional 37 shares during the last quarter. 68.88% of the stock is owned by institutional investors.

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ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.08. The firm had revenue of $7.20 billion during the quarter, compared to analyst estimates of $6.55 billion. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. During the same period in the previous year, the firm earned ($0.66) EPS.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, October 16th will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Friday, October 13th. ConocoPhillips’s dividend payout ratio (DPR) is -57.30%.

Several research analysts have issued reports on COP shares. Jefferies Group LLC set a $54.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Tuesday, August 29th. Barclays PLC boosted their price objective on shares of ConocoPhillips from $55.00 to $59.00 and gave the company an “overweight” rating in a report on Friday, October 27th. Royal Bank Of Canada set a $54.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research cut shares of ConocoPhillips from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Finally, BidaskClub raised shares of ConocoPhillips from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. ConocoPhillips currently has a consensus rating of “Hold” and an average target price of $55.20.

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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