Stockman Wealth Management Inc. decreased its position in ConocoPhillips (NYSE:COP) by 62.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,922 shares of the energy producer’s stock after selling 11,529 shares during the period. Stockman Wealth Management Inc.’s holdings in ConocoPhillips were worth $304,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Patten & Patten Inc. TN increased its stake in ConocoPhillips by 4.6% in the 2nd quarter. Patten & Patten Inc. TN now owns 59,322 shares of the energy producer’s stock valued at $2,608,000 after buying an additional 2,607 shares during the last quarter. Point View Wealth Management Inc. increased its stake in ConocoPhillips by 19.8% in the 2nd quarter. Point View Wealth Management Inc. now owns 32,939 shares of the energy producer’s stock valued at $1,448,000 after buying an additional 5,452 shares during the last quarter. Shell Asset Management Co. increased its stake in ConocoPhillips by 2.4% in the 2nd quarter. Shell Asset Management Co. now owns 202,066 shares of the energy producer’s stock valued at $8,883,000 after buying an additional 4,647 shares during the last quarter. First Foundation Advisors purchased a new stake in ConocoPhillips in the 1st quarter valued at about $497,000. Finally, FMR LLC increased its stake in ConocoPhillips by 6.9% in the 1st quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after buying an additional 3,982,002 shares during the last quarter. Hedge funds and other institutional investors own 68.88% of the company’s stock.

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A number of research analysts have recently weighed in on COP shares. Wells Fargo & Company increased their target price on shares of ConocoPhillips from $57.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Barclays PLC increased their target price on shares of ConocoPhillips from $55.00 to $59.00 and gave the company an “overweight” rating in a research report on Friday, October 27th. Royal Bank Of Canada set a $58.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a research report on Monday. Scotiabank reissued a “buy” rating and set a $53.00 target price on shares of ConocoPhillips in a research report on Wednesday. Finally, Morgan Stanley increased their target price on shares of ConocoPhillips from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 18th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $55.20.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.08. The business 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 prior year, the business posted ($0.66) earnings per share.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, October 16th will be given a $0.265 dividend. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.02%. ConocoPhillips’s payout ratio is currently -57.30%.

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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