KCM Investment Advisors LLC Decreases Position in ConocoPhillips (COP)

KCM Investment Advisors LLC trimmed its position in ConocoPhillips (NYSE:COP) by 6.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 104,471 shares of the energy producer’s stock after selling 7,133 shares during the period. KCM Investment Advisors LLC’s holdings in ConocoPhillips were worth $4,593,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Eagle Asset Management Inc. boosted its stake in ConocoPhillips by 1.0% in the first quarter. Eagle Asset Management Inc. now owns 30,648 shares of the energy producer’s stock valued at $1,528,000 after acquiring an additional 307 shares during the period. Warren Averett Asset Management LLC boosted its stake in ConocoPhillips by 11.8% in the first quarter. Warren Averett Asset Management LLC now owns 6,099 shares of the energy producer’s stock valued at $304,000 after acquiring an additional 645 shares during the period. Advantage Investment Management LLC boosted its stake in ConocoPhillips by 65.3% in the first quarter. Advantage Investment Management LLC now owns 2,425 shares of the energy producer’s stock valued at $121,000 after acquiring an additional 958 shares during the period. Virginia Retirement Systems ET AL boosted its stake in ConocoPhillips by 9.6% in the first quarter. Virginia Retirement Systems ET AL now owns 459,499 shares of the energy producer’s stock valued at $22,915,000 after acquiring an additional 40,209 shares during the period. Finally, State of Tennessee Treasury Department boosted its stake in ConocoPhillips by 79.8% in the first quarter. State of Tennessee Treasury Department now owns 898,352 shares of the energy producer’s stock valued at $44,801,000 after acquiring an additional 398,743 shares during the period. Institutional investors and hedge funds own 70.08% of the company’s stock.

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A number of equities analysts have commented on the company. Royal Bank Of Canada lifted their target price on ConocoPhillips from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday. Piper Jaffray Companies restated a “buy” rating and issued a $53.00 target price on shares of ConocoPhillips in a research note on Friday, November 3rd. Scotiabank restated a “buy” rating and issued a $53.00 target price on shares of ConocoPhillips in a research note on Wednesday, November 1st. Barclays PLC lifted their target price on ConocoPhillips from $55.00 to $59.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. Finally, Wells Fargo & Company lifted their target price on ConocoPhillips from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Four 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 assigned a strong buy rating to the stock. ConocoPhillips currently has a consensus rating of “Hold” and an average price target of $55.37.

ConocoPhillips (NYSE COP) opened at $52.99 on Monday. The stock has a market capitalization of $63,350.39, a price-to-earnings ratio of 2,649.50, a price-to-earnings-growth ratio of 13.72 and a beta of 1.28. ConocoPhillips has a twelve month low of $42.26 and a twelve month high of $54.22. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.08. The company had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $6.55 billion. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. During the same quarter in the prior year, the company earned ($0.66) earnings per share. equities research analysts forecast that ConocoPhillips will post 0.52 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, October 16th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.06 annualized dividend and a dividend yield of 2.00%. ConocoPhillips’s dividend 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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